How is Oracle making all of this money? Who is spending? Oracle lays out a hefty list of customers for its engineered products, ones that are doing quite well. They including the United Arab Emirates, Expedia (EXPE), Macy's (M), U.S. Bancorp (USB), Chevron (CVX), Time Warner (TWX), Vodafone (VOD) and Wal-Mart (WMT). When you hear those names you realize that there are companies with lots of money that are growing, and growing aggressively, and they are choosing Oracle to manage their numbers and their cloud migration. People are getting out of having their own dumb Intel (INTC) boxes and putting their data in the cloud, where it can be accessed more quickly and for cheaper.
Oracle made a big show of saying that it's taking share from SAP in Europe, and that's something with whcih I would bet SAP co-CEO Bill Mcdermott would disagree. There was also a subtle undertone that suggested that Saleforce.com (CRM) is not doing as well as Oracle, either -- something I know Salesforce CEO Marc Benioff could dispute.
Whatever -- let's just say business is very strong, and cash is brimming at $34 billion. That's even despite some large-sized acquisitions and a buyback that's taken in 350 million shares, or $10 billion worth of stock.
At a time when the news headlines suggest a collapse in tech spending, Oracle is saying the opposite. It was an amazing, affirmative earnings call, and my hat is off to the entire team. We may have worries about Apple (AAPL) and we are concerned about personal computers. But, as for overall tech spending on big data and storage -- frankly, it's hard to be better than this. Welcome to the future. At last it is like the past.