Oracle Anticipates a 7% Increase in Application Sales
Oracle Reports Q4 Revenue Growth, but Ace Hardware Sales Slump
In a recent financial update, Oracle reported a small increase in overall revenues for its most recent fiscal quarter. The rise was primarily driven by a 7% increase in software revenue, which totalled $8 billion for the quarter.
Revenues from the Americas rose 5% to £5.7 billion, while Asia Pacific revenue grew by 6% to $1.8 billion. However, Europe, Middle East, and Africa (EMEA) revenues saw a 7% decline to $3.3 billion.
Unfortunately, the hardware sector did not fare as well. Ace hardware sales fell by 16% to $977 million in the quarter, with total hardware revenue, including support, dropping by 14% to $1.5 billion. This decline is attributed to the serious decline in sales of pre-existing Sun products.
Oracle's executive vice president for sales, Keith Block, is leaving the company, and his departure comes amidst disparaging comments about Sun's hardware. Reuters reported that in court filings related to Oracle's ongoing dispute with HP, Block stated, "Nobody talks about Sun" and "It's dead, dead, dead."
Despite the setbacks in the Ace hardware sector, Oracle's CEO, Larry Ellison, remains optimistic. He expects the combination of cloud services and "engineered systems" to drive growth in FY 2013. Sales of Oracle's "engineered systems" grew over 100% year-over-year, indicating a positive trend for the future.
It is not specified in the provided search results which region experienced the largest revenue loss for Oracle in the last financial quarter. The specific court filing that revealed Block's comments is part of Oracle's ongoing dispute with HP.
