Oracle Corporation Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Oracle Q3 FY2021 Earnings Summary

Quarter Highlights

  • Total quarterly revenue was $10.1B, up 3% year-over-year in USD (slightly up in constant currency). This compares to the prior year’s Q3 growth rate of approximately flat to low single digits, showing modest acceleration.
  • Cloud services and license support revenue was $7.3B, up 5% in USD (2% in constant currency). This continues Oracle’s steady mid‑single‑digit cloud growth trend.
  • Recurring revenue accounted for 72% of total revenue, up from prior periods and continuing an upward multi-year trend.

Cloud Applications & Infrastructure

  • Application subscription revenue was $3B, up 5% in USD (3% CC), driven by strong performance in Oracle’s strategic cloud applications.
  • Strategic cloud back-office applications reached $4B in annualized revenue, up 24% YoY:
    • Fusion ERP up 27%
    • NetSuite ERP up 22%
    • Fusion HCM up 21%
  • Infrastructure subscription revenue was $4.3B, up 4% USD (2% CC).
  • OCI (Oracle Cloud Infrastructure) consumption revenue up 123%; autonomous database up 55%; cloud customer consumption up 200%+ (off a small base).
  • Database subscription revenue increased 6% USD (3% CC), showing a solid rebound compared to slower database trends seen in prior quarters.

Licenses, Profitability, and Cash Flow

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Operator: Welcome to Oracle's Third Quarter 2021 Earnings Conference Call. Now I'd like to turn the call over to Ken Bond, Senior Vice President. Ken Bond: Thank you, Erica. Good afternoon, everyone. And welcome to Oracle's third quarter fiscal year 2021 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 customers mentioned on this customer conference call as well as many others which have purchased Oracle Cloud services or went live on Oracle Cloud recently will also be available from the Investor Relations website. On the 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. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from statements being made today. As a result, we caution you against placing undue reliance on these forward-looking statements, and we encourage you to review our most recent reports, including our 10-K and

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