Oracle CEO Mark Hurd is taking a leave of absence due to health reasons, Oracle announced Wednesday, leaving the company in the hands of his co-CEO Safra Catz, as well as co-founder and CTO Larry Ellison. “Though we all worked hard together to close the first quarter, I’ve decided that I need to spend time focused on my health,” Hurd wrote in a letter to Oracle employees. “As you all know, Larry, Safra and I have worked together as a strong team, and I have great confidence that they and the entire executive management team will do a terrific job executing the exciting plans we will showcase at the upcoming OpenWorld.” In a statement, Ellison said that he and Catz will cover Hurd’s responsibilities, with support from “an extraordinarily deep team of executives.” Oracle also announced its Q1 fiscal year 2020 results on Wednesday, a day earlier than expected. Results were effectively in line with market expectations. The company reported non-GAAP earnings per share of 81 cents on revenue of $9.2 billion. Analysts were looking for earnings of 81 cents on revenue of $9.29 billion. Oracle shares were down in after-hours trading. Tech Earnings Zoom delivers strong Q2 results, raises outlook HPE raises full year EPS targets after mixed Q3 results Okta, Nutanix, Zuora beat earnings estimates Workday beats Q2 estimates, raises subscription revenue outlook Dell Technologies delivers strong Q2 amid commercial PC sales Palo Alto Networks delivers strong Q4, acquires Zingbox for IoT security Box tops Q2 estimates, issues… [Read full story]
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