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While companies such as Google (NASDAQ:GOOG), Facebook, and Microsoft (NASDAQ:MSFT) have started relying on external low-cost servers, Oracle chief executive Larry Ellison says his company’s machines are superior to large server farms because they require less electricity and floor space, and give better returns. He says sales of servers are generating around a billion dollars a year in revenue for the company.
The company’s software and support revenues were up last quarter as hardware fell 16 percent, but Ellison says he wants all the pieces to “fit together.”
“You have to be in the hardware business and the software business, to get the best possible system,” he said. “We believe it’s the right idea, we believe it’s the next generation of computing, we believe all the pieces have to fit together.” It’s worth noting Ellison has previously served on Apple’s board.
Here’s how Oracle shares closed the week:
Oracle Corp. (NASDAQ:ORCL): ORCL shares recently traded at $29.56, up $0.4, or 1.37%. They have traded in a 52-week range of $24.72 to $36.50. Volume today was 43,190,569 shares versus a 3-month average volume of 33,254,300 shares. The company’s trailing P/E is 15.48, while trailing earnings are $1.91 per share.
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