Mark Hurd: Oracle is Rocking Europe, Stock Up 2.8%
Oracle Corporation (NASDAQ:ORCL) has broken away from its IT peers and is reporting strong sales in Europe. In last week’s quarterly report, the company disclosed a 14 percent rise in revenue growth for year over year within this region. The company didn’t attribute the growth to a specific deal or transaction.
Oracle president Mark Hurd noted:
“When I look at each segment of our business in Europe, if I read to you the growth rates of each of our product segments, it would sound very consistent,” Hurd said. “We didn’t have any one big deal or transaction that stood out. Europe was a bright spot in the quarter for us in the quarter.”
Looking ahead for the company, Oracle will focus its efforts on selling hardware that contains the company’s intellectual property. This comes with higher prices and profit margin as compared to their commodity hardware.
Oracle’s stock (NASDAQ:ORCL) is up 2.01% to $29.48 on the news. Shares are down 5.91% year to date. The stock has traded in a 52-week range between $24.72 and $36.50.
Competitors to Watch: Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Microsoft Corporation (NASDAQ:MSFT), SAP AG (NYSE:SAP), Intel Corporation (NASDAQ:INTC), Apple Inc. (NASDAQ:AAPL), Red Hat, Inc. (NYSE:RHT), EMC Corporation (NYSE:EMC), CA, Inc. (NASDAQ:CA), and Adobe Systems Incorporated (NASDAQ:ADBE).