Oracle Corporation (NYSE:ORCL) is going through a period of significant transition. Whereas in its hey days new software license boosted its top-line, the company knows that with the emergences of the cloud, those days are gone. Oracle Corporation (NYSE:ORCL)’s new Co-CEO, Mark Hurd, was interviewed by CNBC regarding consolidation in the tech industry and how Oracle Corporation (NYSE:ORCL) is planning to continue growing.
“Anytime there isn’t growth in the industry, I mean Oracle is one of the very few tech companies that’s really growing its top-line and when you don’t have growth, I think companies look at alternatives, point one. Point two, certainly M&A is one way to grow and we are a build and buy company. Now, frankly even a lot of things we have done over the years has been more to build a portfolio and build our capabilities […],”Hurd said.
Hurd mentioned that Oracle Corporation (NYSE:ORCL) has been focusing its energy on growing its cloud business. According to him, Oracle Corporation (NYSE:ORCL)’s cloud business has seen some pretty good organic growth and is proving a good supplement to the core business.
When asked about the two CEO system that Oracle Corporation (NYSE:ORCL) adopted after its founder and CEO, Larry Ellison left his CEO post yesterday, Hurd is of the view that people can be skeptical of the system, but since the top management at Oracle Corporation (NYSE:ORCL) has been working closely for many years, it won’t hamper the company especially because Ellison would still be the man who would be heading the company.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.