Australia  

09-12-19_JC_ORACLE

Video Credit: The Street - Duration: 02:04s - Published
09-12-19_JC_ORACLE

09-12-19_JC_ORACLE

Oracle investors may feel like they need an Oracle after receiving a double whammy from Oracle Wednesday night.

The company posted earnings a day early and also announced that co-CEO Mark Hurd was taking a medical leave of absence.

Adjusted earnings in the first quarter were 81 cents a share, in line with forecasts, but revenue of $9.2 billion fell short of forecasts of $9.3 billion.

"Though we all worked hard together to close the first quarter, I've decided that I need to spend time focused on my health," Hurd wrote in a message distributed to Oracle employees.

The board granted Hurd his request for a leave of absence, he said in a statement.

Oracle Executive Chairman Larry Ellison said that "Oracle has an extremely capable CEO in Safra Catz and an extraordinarily deep team of executives, many with a long tenure at Oracle.

Safra [Catz] and I will cover Mark's responsibilities during his absence."

0
shares
ShareTweetSavePostSend
 

You Might Like

Related news from verified sources

The Bendigo betting oracle: Tigers win delivers FIFO worker $17,000 on $20 multi-bet

You could call Peter O'Kane the Bendigo betting oracle after the FIFO worker won more than $17,000 on...
The Age - Published

'Oracle of oil': The magnate who built a billion-dollar fortune from a $US2,500 investment

T. Boone Pickens, a celebrated corporate raider and energy industry magnate, was working right up...
The Age - Published


Tweets about this


Related videos from verified sources

Fans, Giants Greats Honor Bruce Bochy At Last Game As SF Skipper [Video]

Fans, Giants Greats Honor Bruce Bochy At Last Game As SF Skipper

Bruce Bochy coached his final game as the Giants manager on Sunday. The team made sure to give the retiring skipper a heartfelt farewell. Joe Vazquez reports. (9-29-2019)

Credit: CBS 5 SF KPIX     Duration: 02:32Published
Oracle Park Bids Farewell To Bruce Bochy's Successful Career In San Francisco [Video]

Oracle Park Bids Farewell To Bruce Bochy's Successful Career In San Francisco

As the 2019 baseball season wrapped up, fans turned out to say farewell to retiring Giants manager Bruce Bochy, the man who guided the team to the most successful run in its history. John Ramos..

Credit: CBS 5 SF KPIX     Duration: 02:29Published
Young Eagles take flight at Miramar [Video]

Young Eagles take flight at Miramar

Sean Tucker leads the team.

Credit: ABC 10 News | San Diego     Duration: 01:57Published