Oracle Joins the Cloud Party, Should Have Same Pricing as Amazon

Oracle chairman and chief technology officer Larry Ellison announced the Oracle Cloud Platform at the company's annual OpenWorld customer conference in San Francisco on Sunday. He said the goal is to help companies revamp their applications at the push of a button. Ellison said Oracle will have the same pricing as Amazon or any other infrastructure provider. UBS analyst Brent Thill said in a note, 'Transitions can be turbulent, and Oracle's earnings per share has come in at the low end of guidance range and missed consensus for three quarters in a row. More cuts in guidance are possible near-term, but the end-state should be a more predictable and profitable business model.'