Oracle Corp. ORCL is expected to make a further push into cloud computing next week when its Oracle OpenWorld user conference takes over downtown San Francisco.
Executive Chairman Larry Ellison is scheduled to give the Sunday evening keynote at Moscone Center, where he usually takes questions from customers after discussing Oracle’s products and bashing the competition. Ellison recently stepped down from the CEO job.
Wall Street will be watching Oracle OpenWorld closely because they are expecting a new database as a service product. Ellison, who is also chief technology officer, told analysts last week on the company’s earnings call that the software giant would be launching a “database cloud service” which will let customers access their Oracle databases and the data within them in a secure manner over the Internet. But that news was overshadowed by his decision to step down as CEO, while remaining as executive chairman.
“Database is our largest software business and database will be our largest cloud service business,” Ellison said on the call.
Oracle, one of the oldest software developers in Silicon Valley, is going through a seismic shift as more customers demand software services in the cloud. About half of the company’s revenue comes from recurring software revenue and maintaining software hosted on the systems of its customers.
The user conference will also be a sort of debut for Mark Hurd is his new role as Oracle Co-Chief Executive. Hurd shares the title with Safra Catz, who is also the company’s chief financial officer. Hurd who has the salesforce reporting to him, is more visible than Catz and will be giving a keynote on Monday morning.
The news that Ellison stepped down as chief executive was unexpected and made some investors jittery, but Ellison stressed on the call that not much will change within the company. Investors will be looking for any clues as to whether or not that is true or not.