Oracle Corp Stock Price, News & Analysis

Oracle Corporation (NYSE: ORCL) announced its upcoming Oracle CloudWorld Las Vegas event, set for October 17-20, 2022. The company reported a 19% increase in total cloud revenues, reaching $2.9 billion for the quarter ending May 31, 2022. Notably, IaaS revenues surged 36% to $792 million, while SaaS revenues from Fusion ERP and NetSuite ERP also saw significant growth. CEO Safra Catz expressed excitement about the continuous growth across their cloud applications and infrastructure as they prepare for CloudWorld.

Oracle has opened its first cloud region in Mexico, located in Querétaro, expanding its global cloud infrastructure footprint to 39 regions. This development allows public and private organizations in Mexico to access a variety of cloud services with enhanced security and disaster recovery capabilities. The new region is committed to sustainability, aiming to utilize 100% renewable energy by 2025. Furthermore, it provides organizations access to emerging technologies to modernize operations and improve customer experiences.

Commvault has expanded its partnership with Oracle to offer Metallic Data Management as a Service (DMaaS) on Oracle Cloud Infrastructure (OCI). This collaboration aims to enhance data protection for enterprise customers against threats while ensuring compliance with local data residency laws. Metallic DMaaS delivers improved security and simplified recovery options, facilitating seamless integration between on-premises and cloud environments. The service aims to combat ransomware and unauthorized data access across various sectors, leveraging OCI's advanced security features and storage capabilities.

Oracle has launched the Oracle Food and Beverage Payment Cloud Service, enabling US restaurants to accept multiple contactless payment options without hidden fees or long-term contracts. This service features a fixed fee pricing model and operates on Oracle Cloud Infrastructure, ensuring security and compliance. Partnering with Adyen, Oracle aims to simplify payment processing, allowing restaurateurs to manage operational costs more effectively. The service directly integrates with the Oracle MICROS Simphony POS system, offering comprehensive support for restaurant needs.

Oracle has launched the Oracle Utilities Agent Service, a cloud application designed for utility customer service teams that integrates billing, usage, and interaction data for a comprehensive view of customers. The application employs AI-powered tools to assist agents in efficiently resolving customer issues and recommending services. This enhances agent productivity and improves customer interactions across multiple service channels. Oracle's CX for Utilities suite aims to optimize customer experiences for water, gas, and energy providers, supported by its advanced technology and operational knowledge.

Oracle's Opower Peak Management programs achieved record engagement during summer 2021, involving over 3.3 million participants across North America. The programs resulted in a demand reduction of 25 megawatts, equivalent to 10 wind turbines. With an impressive 53% average open rate for communications, these initiatives not only stabilized the energy grid but also enhanced customer satisfaction. Utilities are adopting similar strategies to manage extreme weather events more effectively, as highlighted by positive feedback from customers and increasing engagement in energy-saving behaviors.

Oracle has launched the Oracle Retail Supplier Evaluation Cloud Service to enhance merchandising procurement by improving visibility into suppliers' ethical and environmental practices. This tool aids retailers in making sustainable sourcing decisions, thus safeguarding brand image and reducing supply chain risks. By evaluating suppliers based on governance, safety, and quality, retailers can foster deeper consumer trust. The platform will be available from July 14, 2022, aiming to align with consumer demand for sustainability, as 60% of consumers prioritize eco-friendly brands.

Oracle and Vodafone announced a strategic partnership to modernize Vodafone's European IT infrastructure, enhancing its transition to the cloud. Under this multi-year agreement, Vodafone will migrate numerous systems to the OCI Dedicated Region, a managed cloud environment within its data centers. This initiative aims to improve operational efficiency, reduce costs, and enable rapid application development across multiple markets. The partnership also supports Vodafone's Tech 2025 goals, including enhanced customer experiences and service delivery speed.

On June 21, 2022, Oracle announced the successful implementation of a second OCI Dedicated Region by Nomura Research Institute (NRI) at its Osaka data center. This follows a prior successful adoption at the Tokyo data center. The move supports NRI's T-STAR asset management solution, utilized by over 100 major investment firms in Japan. OCI's high performance and security enable NRI to meet regulatory requirements. The partnership facilitates resource allocation towards digital transformation while modernizing core financial SaaS applications.