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How Oracle 'Declared War' On Salesforce

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How Oracle 'Declared War' On Salesforce

Oracle Corporation (NYSE: ORCL) posted spectacular second-quarter results on Wednesday after the markets closed. Shares opened Thursday with significant gains, recently trading at $44.48, up 8 percent. One highlight of the results was revenue from the cloud business (excluding update and support), which came at $516 million, up 45 percent from the previous quarter.

CNBC’s Jim Cramer broke down Oracle results and also discussed Oracle’s founder, Larry Ellison, attack on Salesforce.com.

"I never heard Ellison this combative," Cramer said. "There were eight mentions -- eight mentions -- of Salesforce.com and how Salesforce.com is slowing and they are accelerating. It was a good quarter, I almost feel like they are going back to the old strategy of Toto -- turning of the oxygen to the other players in the cloud, but remember Ellison and [Salesforce Founder] Marc Benioff are old friends. This was not a friendship conference call; This was a declaration of war and yesterday could be a day that could live in infamy for Marc Benioff."

Related Link: Deutsche Bank Raises Oracle Price Target

"This was a very important quarter and I totally understand why the stock was up. The analysts were very neutral," Cramer added.

Cramer also acknowledged that he himself has been negative on the stock in the past, saying, "My hats off to all the team there, this was a good quarter. I have been critical of them, they put up instead of they didn’t shut up, they put up and Ellison was hilarious in the call. He is hilarious, I mean the guy is...a competitor in every aspect of his life and I like this Ellison."

Posted-In: CNBC Larry Ellison Marc Benioff Salesforce.com Jim CramerTech Media Best of Benzinga

 

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