Digital Daily » NetSuite

NetSuite Beats Street by a Penny

John Paczkowski — Wed, 04 Nov 2009 21:54:35 +0000

Investors expecting NetSuite to break even on a per-share basis for its third quarter were given a pleasant surprise this afternoon when the company beat estimates by a penny. Though its loss widened to $8 million, or 13 cents a share, from $6.2 million, or 10 cents a share, in the same quarter last year, revenue rose to $41.7 million from $40.4 million.

Excluding special items, NetSuite (N) said earnings for the quarter were one cent a share. Said NetSuite CEO Zach Nelson: “We are very pleased to report record revenue and record cash flow.”

Another One of These Cloud Computing Rants and You’ve Got Yourself a Stand-Up Routine, Larry

John Paczkowski — Fri, 02 Oct 2009 18:38:43 +0000

The passing of a year hasn’t much changed Oracle (ORCL) CEO Larry Ellison’s opinion of cloud computing. Remarking on the industry’s sudden fascination with the concept at Oracle OpenWorld last September, Ellison reduced it to a thin sheen of windshield condensation.

“The interesting thing about cloud computing is that we’ve redefined cloud computing to include everything that we already do,” Ellison said. “I can’t think of anything that isn’t cloud computing with all of these announcements….These people who are writing this crap are out there. They are insane. I mean it is the stupidest. Is it ‘Oh, I am going to access data on a server on the Internet.’ That is cloud computing?…Maybe I’m an idiot, but I have no idea what anyone is talking about. What is it? It’s complete gibberish. It’s insane. When is this idiocy going to stop?”

In conversation with former Sun (JAVA) CEO Ed Zander at a Churchill Club event a little over a year later, Ellison expanded on those remarks, suggesting that if the cloud is anything, it’s a cloud of BS.

Cloud’s water vapor….Cloud computing is not only the future of computing, it is the present and the entire past of computing.

…Salesforce.com has been around for a decade. And so has NetSuite…and people are saying, “Well, that’s cloud computing.” Google is cloud computing. Everyone is cloud computing….Everything is in the cloud now….It’s this nonsense.

…But it’s not water vapor. All it is is a computer attached to a network. What are you talking about? I mean, what do you think Google runs on?…Water vapor? It’s databases and operating systems and memory and microprocessors and the Internet!

…And the VCs, I love the VCs. [They ask their start-ups] “Oh…is that cloud?” [And the start-ups go] “Oh! Oh! Microsoft Word! Change ‘Internet’ to ‘cloud’! Mass change. Give it back to these nitwits on Sand Hill Road.”

…What do you mean by “cloud computing”?…All the cloud is is computers on a network.

Our industry is so bizarre. They just change a term and they think they’ve invented technology….You can’t just come up with a [slogan] like “Let’s call that ‘cloud.” [But] it sure beats innovation.”

Below, the full video. Ellison’s rant begins around the 45:54 mark.

NetSaweeet!

John Paczkowski — Thu, 20 Dec 2007 23:14:16 +0000

Oracle CEO Larry Ellison’s had a hell of a week, hasn’t he? Yesterday, Oracle shrugged off concerns about a tech slowdown, besting Wall Street’s expectations with a 35% gain in its second-quarter earnings. And then today, shares of NetSuite, the “software as a service” venture of which he is a principal owner, priced at $26 a share in their IPO debut, well above the expected per-share price range of $19 to $22, which itself was $6 higher than $13 price initially set by underwriters.

NetSuite sold about 6.2 million shares in its modified Dutch auction IPO, raising$161.2 million. That makes the company worth more than $1.5 billion and the stake of its mercurial investor–who’s already No. 11 on Forbes list of billionaires–worth about $1 billion.

AskEraser Doesn’t Work on Google Permanent Marker

John Paczkowski — Tue, 11 Dec 2007 19:00:24 +0000

[ See post to watch video ]

In the Valley, They Say, Larry’s Small Heart Grew Three Sizes That Day

John Paczkowski — Tue, 11 Dec 2007 03:56:49 +0000

Larry Ellison’s other company is finally going public. Today, NetSuite–the software-as-a-service company of which Ellison is a majority owner–opened bidding on the 6.2 million common shares it plans to sell in a modified Dutch auction.

Assuming the IPO goes off as planned–and given the healthy market for tech IPOs, there’s every reason to believe it will–NetSuite shares will price out in the range of $13 to $16, raising the company some $99 million with which to pay off some debt, make new investments and further enrich Ellison, who controls about 60% of NetSuite’s outstanding stock.

To be fair, though, he does plan to set aside some 31.9 million shares for charitable purposes–perhaps another $115 million pledge to make and then withdraw from Harvard University?