Oracle cloud revenue misses estimates as competition intensifies

Business software maker Oracle Corp’s cloud division reported quarterly revenue that missed analysts’ estimates, on increased competition from Amazon.com Inc and Microsoft Corp for cloud services due to remote working.

The company’s shares fell 2.6% to $70.25 in extended trading on Wednesday.

With the shift to remote work, many businesses were pushed to shift operations to the cloud resulting in an increase in demand for offerings by Oracle, Microsoft’s Azure and Amazon Web Services.

Revenue from Oracle’s cloud services and licenses support unit, its largest by revenue, rose 5% to $7.25 billion in the reported quarter, compared with estimates of $7.27 billion, according to IBES data from Refinitiv.

“We are opening new regions as fast as we can to support our rapidly growing multi-billion dollar infrastructure business,” Oracle Chairman Larry Ellison said.

To compete with cloud services provided by Amazon and Microsoft, Oracle has been setting up more data centers.

The company’s revenue rose 3% to $10.09 billion for the third quarter ended Feb. 28, edging past analysts’ estimates of $10.07 billion.

On an adjusted basis, Oracle earned $1.16 per share beating estimates of $1.11.

PlayStation announces new games but some fans wanted more

It was an action-packed 30 minutes at Sony’s latest State of Play livestream.

The event offered gamers a closer look at ten new games coming to PlayStation 4 and 5 consoles later this year.

Crash Bandicoot 4: It’s About Time, Deathloop, and Final Fantasy VII Remake Intergrade were just some of the highly-anticipated games part of the pre-recorded presentation.

But it’s fair to say fans of franchises like Horizon Forbidden West and God of War: Ragnarok were left wanting more.

View original tweet on Twitter

It was revealed the latest Oddworld adventure, Oddworld Soulstorm, will release on 6 April for both PS4 and PS5, as well as Epic Games Store for PC. 

There was news for PS5 players signed up to Sony’s PlayStation Plus subscription service too – the PS5 versios will be available at no extra cost from release day until 3 May 2021.

Absolver developer SloClap unveiled the stylish brawler Sifu, a brand new, third-person martial-arts game that features “intense hand-to-hand combat” as it follows the life of a Kung-Fu student on a path of revenge. 

There was exciting news for Final Fantasy fans, too. 

Final Fantasy VII Remake Intergrade will be released on 10 June, boasting “a wealth of graphical, gameplay and system enhancements for the PS5”.

Developer Square Enix additionally confirmed there will be a free upgrade for gamers moving from PS4 to PS5, as well as a new photo mode, extra difficulty settings, improved loading times, and an all-new FFVII downloadable adventure starring ninja, Yuffie Kisaragi.

View original tweet on Twitter

Fans got a fresh look at Dishonored developer Arkane’s upcoming first-person shooter Deathloop and a sneak peek at the next terrifying Five Nights at Freddy’s adventure, Security Breach.

Though no firm release date was offered, the horror game looks set to release on PS4 and PS5 later this year. 

There was also fresh footage from Solar Ash, Returnal, Knockout City – a new, colourful team-based dodgeball game published by Electronic Arts – and the charming Kena Bridge of Spirits, too.

View original tweet on Twitter

Anyone hoping to find out more about games like God of War: Ragnarok will need to be patient for just a little bit longer.

While there were no updates this time, Sony regularly releases State of Play livestreams throughout the year, and there are just a few months to go before the industry’s annual video game expo, E3 2021.

By Vikki Blake
Newsbeat reporter

U.S. bank software provider Alkami plans IPO at $3 billion valuation – sources

(Reuters) – Alkami Technology has chosen Goldman Sachs Group Inc to lead preparations for a planned initial public offering of the U.S. banking software provider later this year that may value it at $3 billion, people familiar with the matter said on Monday.

Backed by investors including General Atlantic, D1 Capital Partners and Fidelity Management and Research Company, the Plano, Texas-based firm supplies cloud-based platforms that banks and credit unions can use to set up digital offerings for their retail and business customers.

The IPO plans come as the COVID-19 pandemic has highlighted how financial services companies need secure and effective digital platforms. Smaller banks typically do not have the resources to invest in developing such systems internally, and instead turn to third-party providers such as Alkami.

Around 160 financial institutions are using their services, according to Alkami’s website.

The sources requested anonymity as the IPO plans are private. Alkami did not respond to a request for comment, and Goldman Sachs declined to comment.

Alkami last raised capital from private investors in September, taking $140 million at an undisclosed valuation. The company said at the time it had $130 million of annual recurring revenue.

Thoma Bravo-backed MeridianLink, another U.S. banking software provider, has hired banks for a public listing, Reuters reported earlier this month.

Investor interest in software companies, and the buoyant market for IPOs in general, is likely to be beneficial for both Alkami and MeridianLink.

Banking software provider nCino Inc listed in July after pricing its IPO above an already-increased price range, and continues to trade at more-than 150% above its IPO price.

Restaurant-software provider Toast prepares for IPO: WSJ

(Reuters) – Toast Inc, a cloud-based restaurant software company, is planning an initial public offering that could value it at around $20 billion, the Wall Street Journal reported on Sunday.

Boston-based Toast has tapped Goldman Sachs Group Inc and JPMorgan Chase & Co to underwrite a possible listing later this year, the newspaper reported, citing people familiar with the matter. It could also consider other options including a sale or combination with a blank-check company, the Journal reported.

There are no guarantees Toast will ultimately go public or pursue another of the options, the newspaper added.

The company did not immediately respond to a Reuters request for comment.

In February of last year, Toast raised $400 million in a funding round led by investment firms TPG and Tiger Global Management, among others, taking its valuation to $4.9 billion.

T-system’s tools for transformation

With “Future IT Transformation”, T-Systems is bringing hardware, software and data into the modern age.

The new FITT offering consists of six modules. The Telekom subsidiary thus modernizes inflexible Cobol programs, rescues information from old databases or move existing systems to the cloud.

“Mainframes and Cobol were developed over 60 years ago, but even supposedly newer systems from 2000 are no longer fit for the future,” explains Dr. Andreas Greis, Head of Digital Solutions at T-Systems. “Customers today need IT landscapes that make their businesses more flexible, faster and more efficient.

That’s why we have combined some of our standard solutions into FITT. With them, we modernize platforms, databases and programs – in small steps or in big ones, as the situation dictates.”

These modules are available now:

zWebConnector shares data from mainframes across platforms with other infrastructure in the enterprise.

zFCI makes the mainframe as flexible as the modern cloud.

zFuture Rehosting migrates applications from the mainframe to a cloud environment – even directly to the public cloud.

Data Excavator transforms legacy data warehouses into data lakes.

Monolith 2 Microservices transforms rigid Java programs into many microservices – making the application package more flexible overall.

zFuture Mainframe App Modernization breaks down Cobol and PL1 programs into cloud-enabled microservices.

T-Systems will present FITT for the first time at Accelerate Digital Now.

The IT provider’s largest digital customer event will take place on 16th and 17th February.

Source: T-systems