Oracle recently announced their Q1 FY19 earnings and I thought I would spend some time to dig through that. It's interesting when you hear these earnings calls there's sort of two calls in one. There's the first part which is really scripted, where executives talk about the numbers and read, literally read, from the script. And then there's the second part which is the Q&A. I want to talk about both of those right now.
We've actually got about four or five different videos that we're going to publish just on the one earnings call from Oracle and I wanted to start with this one because I thought it was the most important. Oracle, obviously, missed their earnings target as Wall Street, you know, compared to what Wall Street was expecting and their stock took a little bit of a hit. I think the bigger thing that Oracle missed is not just their revenue, they really just missed the point when it comes to what their customers want. I was listening to the earnings, I was listening to their executives talk and they made a lot of mention of Oracle technology and how it's “the best” and how their cloud is “the best” and Oracle's “the best”. And it kept going through that over and over again. Yes, it's important that companies want to choose technology vendors and technology products that meet their needs. You know, who doesn't want to buy “the best” of something? But here's the deal. What Oracle customers really want from Oracle is transparency. It’s openness. It’s clarity. And most of all, it’s freedom. Oracle customers above anything else want the freedom to decide where, how, and when they will deploy all the Oracle software that they purchased over the years. I didn't hear the word freedom one time, that whole call was about 45 minutes, I didn't hear Oracle mention one single time how they were making it easier for customers to chart their own path. I heard a lot about how they are pushing their customers to Oracle, but I didn't hear anything about providing freedom.
I think this is interesting if you look back at technology companies, take Microsoft, for example. You know, their stock suffered for years when they push the “Windows Everywhere” idea and if it wasn't on Windows then they weren't interested. And I think that hurt them and things like their cell phone, mobile phone technology. Now that they dropped that and they just want you to use their products on the platform of your choice, Microsoft’s stock is through the roof. I mean, heck, I've got an iPhone right here and I've got Microsoft apps all over it. So that's a great example of how a company pivoted in not just their technology but their attitude towards their customers.
And again, that is what Oracle customers are looking for. So when Oracle decides to provide clarity and openness and freedom to their customers I think you're going to see Oracle stock double, triple. I think people will really move to parts of the platform that they want. Until then, while Oracle is pushing their customers with really aggressive sales tactics, really difficult to understand contracts and sometimes horrific LMS audits there's going to be some pushback from customers.
So until that time when Oracle becomes kinder and gentler, it's really important for Oracle customers to make sure they understand their contracts. Make sure that they require Oracle to live up to their obligations and just not make stuff up and non-contractual policy documents. And really it's up to Oracle customers to take control and to take charge of that relationship with Oracle. And obviously, you know Palisade Compliances is here to help them.
Thank you for your time today, good luck with Oracle and please look out for our next video where we are going to talk about how Oracle customers probably killed off Oracle's “database as a service” offering and what Oracle had to say about that.