CNBC Excerpts: CNBC Exclusive: CNBC's Maria Bartiromo Sits Down with Oracle President Mark Hurd Today
WHEN: TODAY, MONDAY, SEPTEMBER 23RD
WHERE: CNBC'S "CLOSING BELL WITH MARIA BARTIROMO"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Oracle President Mark Hurd today on CNBC's "Closing Bell with Maria Bartiromo." Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?play=1&video=3000201603. All references must be sourced to CNBC.
Hurd on Industry Change:
THE SECULAR CHANGES IN THE INDUSTRY HAVE BEEN ENORMOUS. WHEN YOU THINK ABOUT ENTERPRISE APPLICATIONS WE WERE TALKING ABOUT THIS EARLIER TODAY, THE AVERAGE AGE OF ENTERPRISE APPLICATIONS IN THIS COUNTRY IS 16, 17, 18 YEARS OLD. THINK ABOUT THE FACT THOSE APPLICATIONS WERE WRITTEN BEFORE THERE WAS ACTUALLY MASSIVE USE OF THE INTERNET, BEFORE THERE WAS A MOBILE DEVICE, BEFORE THERE WAS TWITTER, BEFORE THERE WAS SOCIAL MEDIA. SO MANY OF THOSE THINGS THAT WERE DONE LONG AGO THAT ARE STILL IN PERVASIVE USE TODAY HAVE GOTTEN WAY BEHIND.
Hurd on Europe:
WE'VE HAD GOOD PERFORMANCE IN EUROPE OVER THE COURSE OF THE PAST COUPLE OF YEARS. ONE OF THE REASONS HAS BEEN OUR EXPANSION OF THE SALES FORCE. WE'VE BEEN ABLE TO GET INTO MORE DEALS EVEN THOUGH THE EUROPEAN I.T. MARKET HAS BEEN FLATTISH, PROBABLY AT BEST, WHEN YOU LOOK AT THE NUMBERS. I THINK ONE THING THAT HAS HURT I.T. HAS BEEN THE BRIC COUNTRIES. THE BRIC COUNTRIES WERE ROUGHLY 10%, 12%, 13% OF ALL GLOBAL I.T. WAS EMANATED FROM THE BRIC COUNTRIES. THAT GROWH HAS SLOWED.
Hurd on Gained Share:
IN THE LICENSE SOFTWARE PART OF THE FORECAST WE ACTUALLY BEAT CONSENSUS. NOW, WE GREW IN LOCAL CURRENCY 6%. AND OUR OVERALL SOFTWARE BUSINESS GREW 8%. SO, THAT'S 8% IN LOCAL CURRENCY. SO, WE CLEARLY GAINED SHARE. WE SEE THE SAME THINGS THAT YOU DESCRIBED, THE I.T. MARKET IS TIGHT. WE HAVEN'T SEEN GREAT GROWTH BROADLY ACROSS I.T. BUT WITHIN THE CONTEXT OF THAT, WE GAINED SHARE.
Hurd on Sun:
WELL I THINK THAT WE DONT MEASURE, PER SE, SUN. IT'S NOW A BLENDED PRODUCT LINE. I THINK IF YOU SAW IN THE QUARTER WE ANNOUNCED 60% GROWTH IN WHAT WE CALL OUR ENGINEERED SYSTEMS. THOSE ARE THESE VERTICALLY INTEGRATED SYSTEMS WHERE YOU CAN GET SOFTWARE AND HARDWARE ENGINEERED TOGETHER. WE WOULDN'T HAVE THOSE ENGINEERED SYSTEMS WITHOUT THE SUN MICROSYSTEMS ACQUISITION. THE FACT IT GAVE YOU THE TOOLS AND BUILDING BLOCKS TO BE ABLE TO HAVE THOSE PRODUCTS. AND THE SERVER MARKET OVERALL GREW PROBABLY FLAT IN UNITS. WE GREW 60%. WE GAINED MATERIAL SHARE IN THAT PART OF THE MARKET AS WELL.
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