Sunday, June 25, 2006
Oracle profit up, says taking share from rivals - Yahoo! News
Oracle profit up, says taking share from rivals - Yahoo! News: "The world's biggest maker of database software, which issued a profit forecast for the current quarter in line with Wall Street forecasts, also said it would spend an additional $1 billion each quarter in stock buybacks during 2007.
Oracle Chief Financial Officer Safra Catz said worldwide demand for its database software and business applications that help companies automate everything from human resources to accounting to inventory management fueled the results.
The Redwood Shores, California-based company generates most of its revenue from its database products but has made a huge push into the market for business-software applications led by SAP AG of Germany.
'We continue to take market share across all our product lines, growing apps faster than SAP, middleware faster than BEA and database far faster than IBM,' Catz said. 'All product lines grew very, very substantially.'"
Oracle Chief Financial Officer Safra Catz said worldwide demand for its database software and business applications that help companies automate everything from human resources to accounting to inventory management fueled the results.
The Redwood Shores, California-based company generates most of its revenue from its database products but has made a huge push into the market for business-software applications led by SAP AG of Germany.
'We continue to take market share across all our product lines, growing apps faster than SAP, middleware faster than BEA and database far faster than IBM,' Catz said. 'All product lines grew very, very substantially.'"
