Oracle Corporation Q4 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights (Q4 FY2022)

  • Total revenue reached $11.8B, up 10% in constant currency (compared to 2% growth in FY2021).
  • Cloud services and license support revenue grew to $7.6B, up 7% in constant currency.
  • Total cloud revenue (IaaS + SaaS) was $2.5B, up 22% in constant currency (accelerating from 22% for the full year).
  • EPS exceeded guidance by $0.20; non-GAAP EPS was $1.54 (up 7% constant currency).
  • Cloud application revenue grew 9% in constant currency.
  • Strategic back-office cloud apps annualized revenue reached $5.4B, up 24% in constant currency, including Fusion ERP up 23% and NetSuite ERP up 30%.
  • Infrastructure cloud services grew 49% excluding legacy hosting, with OCI consumption +83%, Cloud@Customer +108%, Autonomous DB +29%.
  • License revenue surged to $2.5B, up 25% in constant currency, driven by cloud deployment by major SaaS vendors.
  • Database business posted double‑digit growth.
  • Gross margin on cloud services and license support was 82%.
  • Operating margin remained high at 47% despite large cloud investments.

Full Fiscal Year 2022 Highlights

  • Total year revenue was $42.4B, up 7% in constant currency (largest increase in over a decade; compared to 2% growth in FY2021).
  • Total cloud services revenue grew 22% for the year.

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Operator: Good afternoon. Thank you for standing by. Welcome to Oracle's Fourth Quarter 2022 Conference Call. It's now my pleasure to hand today's conference over to Oracle's Senior Vice President, Ken Bond. Ken Bond: Great. Thank you, David. Good afternoon, everyone, and welcome to Oracle's fourth quarter and fiscal year 2022 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 the call today are Chairman and Chief Technology Officer, Larry Ellison; and Chief Executive Officer, 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. And 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 against placing undue reliance on these forward-looking statements, and we encourage you to review our most rece

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