{"id":39619,"date":"2019-09-12T09:41:37","date_gmt":"2019-09-12T09:41:37","guid":{"rendered":"http:\/\/icloud.pe\/blog\/?guid=83b143dd08d43aa2f423623b27fcde2e"},"modified":"2019-09-12T09:41:37","modified_gmt":"2019-09-12T09:41:37","slug":"oracle-earnings-flat-as-ceo-steps-down-citing-health-reasons","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/oracle-earnings-flat-as-ceo-steps-down-citing-health-reasons\/","title":{"rendered":"Oracle earnings flat as CEO steps down citing health reasons"},"content":{"rendered":"


\n Keumars Afifi-Sabet<\/a><\/span>
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12 Sep, 2019<\/span><\/div>\n<\/p><\/div>\n<\/div>\n

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Oracle’s chief executive Mark Hurd is stepping down from the company on a temporary basis for health-related reasons, as the software giant released its quarterly earnings earlier than expected.<\/p>\n

The co-CEO, who shares his role with fellow chief executive Safra Catz, requested a leave of absence to address health-related issues, the company announced yesterday, following\u00a0nine years at the company<\/a>.<\/p>\n

The news was announced in conjunction with the latest financial results, and has been disclosed just a few days before the company’s\u00a0annual OpenWorld conference<\/a>\u00a0is set to kick off in San Francisco next week.<\/p>\n

“To all my friends and colleagues at Oracle, though we all worked hard together to close the first quarter, I’ve decided that I need to spend time focused on my health. At my request, the Board of Directors has granted me a medical leave of absence,” said Hurd.\u00a0<\/p>\n

“As you all know, Larry, Safra and I have worked together as a strong team, and I have great confidence that they and the entire executive management team will do a terrific job executing the exciting plans we will showcase at the upcoming OpenWorld.”<\/p>\n

Hurd’s announcement overshadows the company’s roughly flat financial results for the first quarter of the 2019\/20 financial year. Oracle declared revenues of $9.2 billion last quarter; the same figure year-on-year versus the first quarter for 2018\/19.<\/p>\n

Cloud services and license support revenue, meanwhile, climbed slightly to $6.8 billion versus $6.6 billion year-on-year, while cloud license and on-premise license revenue slumped to $812 million from $867 million.<\/p>\n

“Autonomy is the defining attribute of a Generation 2 Cloud,” said Oracle’s CTO Larry Ellison. “Next week at our OpenWorld conference, we will announce more Autonomous Cloud Services to complement the Oracle Autonomous Database.”<\/p>\n

As for the company’s leadership, Catz will continue on as sole CEO, while Ellison, who co-founded the company, will handle Hurd’s responsibilities. The company hasn’t announced how long Hurd will be away from his post. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Keumars Afifi-Sabet<\/p>\n

12 Sep, 2019 <\/p>\n

Oracle’s chief executive Mark Hurd is stepping down from the company on a temporary basis for health-related reasons, as the software giant released its quarterly earnings earlier than ex…<\/p>\n","protected":false},"author":433,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-39619","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/39619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/433"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=39619"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/39619\/revisions"}],"predecessor-version":[{"id":39620,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/39619\/revisions\/39620"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=39619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=39619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=39619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}