Oracle Corporation Q1 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Performance

  • Total revenue reached $11.4B, up 23% year-over-year in constant currency (vs. 8% organic growth excluding Cerner). This builds on a strong Q4.
  • Cloud momentum remained strong, with total cloud revenue including Cerner at $3.6B, up 50% in constant currency.
  • Currency headwinds were significant at 6 points on revenue and an $0.08 EPS impact.
  • Non-GAAP EPS was $1.03 (flat in USD; up 8% in constant currency). GAAP EPS was $0.56 (down 34% YoY).

Cloud Services and License Support

  • Cloud Services & License Support revenue grew 20% in constant currency to $8.4B.
  • SaaS revenue was $2.7B, up 48% in constant currency (43% in USD).
  • IaaS revenue was just under $900M, up 58% in constant currency (52% in USD).
  • Excluding Cerner, total cloud revenue grew 29% in constant currency to $3.1B.
  • Cloud infrastructure (OCI) continued accelerating, with:
    • OCI consumption revenue up 103%
    • Cloud@Customer revenue up 92%
    • Autonomous Database up 56%

Applications (SaaS) Performance

  • Application subscription revenue excluding Cerner was up 12% in constant currency.
  • Strategic back-office cloud apps annualized revenue grew to $5.8B, up 33%:
    • Fusion ERP up 38%
    • NetSuite ERP up 30%
    • Fusion HCM up 26%

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good afternoon. Thank you for standing by. Welcome to Oracle's First Quarter 2023 Conference Call. It's now my pleasure to hand today's conference over to Oracle's Senior Vice President, Ken Bond. Ken Bond: Thank you, Josh. Good afternoon, everyone, and welcome to Oracle's First Quarter Fiscal Year 2023 Earnings Conference Call. A copy of the press release and financial tables, which includes a GAAP to non-GAAP reconciliation and other supplemental financial information, can be viewed and downloaded from our Investor Relations website. Additionally, a list of many customers who purchased Oracle Cloud Services or went live on Oracle Cloud recently will be available from the Investor Relations website. On our call today are Chairman and Chief Technology Officer, Larry Ellison; and CEO, Safra Catz. As a reminder, today's discussion will include forward-looking statements, including predictions, expectations, estimates or other information that might be considered forward-looking. Throughout today's discussion, we will present some important factors relating to our business, which may potentially affect these forward-looking statements. These forward-looking statements are also subject to risks and uncertainties that may cause actual results to differ materially from statements being made today. As a result, we caution you from placing undue reliance on these forward-looking statements, and we encourage you to review our most recent reports, including our 10-K and 10-Q

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional