Boston, MA 07/04/2014 (wallstreetpr) – Oracle Corporation (NYSE:ORCL) recently provided important insight into its business. At a Cloud Forum organized by Oracle and attended by analysts, the company recently said it has thousands of cloud sales representatives in at least 60 countries. The announcement demonstrated how the company is gaining ground in the cloud market.
The company also praised its asset acquisitions to bolster its standing in cloud computing as it seeks to diversify its operations so as to ensure sustainable stream of revenue.
Cloud is new world order
According to Kelvin Ikeda and Steve Koenig from Wedbush who were some of the analysts at Oracles second conference on cloud, Oracle Corporation (NYSE:ORCL) demonstrated that it will have in important play in the new world order, which is cloud computing.
The company is aggressively eyeing more than $174 billion estimated spending on cloud computing infrastructure and services this year. The company already has a number of cloud applications and on top of that it is also developing cutting-edge technologies to improve its market share.
The global spending on cloud-based infrastructure and service acquisition is expected to increase by 20 percent in 2014 over the spending realized in 2013.
The company focuses on serving enterprise clients and its big sales force allows the company to reach out to many potential clients across the world.
The acquisitions that the company is making in cloud-oriented business are expected to support quick geographical expansion and revenue gain as the company works towards a turnaround.
The company recently entered a deal to purchase Micros Systems for more than $5 billion, of which Oracle Corporation (NYSE:ORCL) announced bond sale to raise funds to finance the transaction. The company is raising $10 billion in bond offering, and it intends to use some of the funds to repurchase its shares and retire maturing notes.
Revenue problem
Oracle Corporation (NYSE:ORCL) failed to live up to the market expectation when it reported its 4Q2014. The company reported $11.3 billion in revenue, yet analysts expected revenue of $11.48 billion for the quarter. As if that was not enough, the company fell short of EPS expectations as it reported $0.92 against $0.95. As such, the management is working overtime to boost revenue at least to convince investors about the company’s relevance in the cloud business.
