Oracle Corporation Q4 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Oracle reported a strong Q4 driven by unprecedented cloud demand, marking what Safra Catz called the “full emergence” of Oracle’s high‑growth cloud businesses.
  • Remaining Performance Obligations (RPO) hit a record 98 billion dollars, up 44 percent year over year from 68 billion dollars and up 18 billion dollars sequentially.
  • Oracle signed the largest sales contract in its history, with more than 30 AI‑related deals totaling over 12 billion dollars this quarter and nearly 17 billion dollars for the fiscal year.
  • OpenAI selected Oracle Cloud Infrastructure (OCI) for AI training workloads, reinforcing OCI’s positioning as a high‑performance and cost‑efficient AI platform.
  • Oracle announced a new multicloud partnership with Google, allowing Oracle Database services to run on OCI inside Google Cloud datacenters beginning September.

Revenue Performance

  • Total cloud revenue excluding Cerner rose 23 percent to 4.7 billion dollars; including Cerner, cloud revenue increased 20 percent to 5.3 billion dollars.
  • SaaS revenue reached 3.3 billion dollars, up 10 percent versus last year.
  • IaaS revenue grew 42 percent to 2 billion dollars, building on 77 percent growth in the previous year.
  • Total cloud services and license support revenue climbed 10 percent to 10.2 billion dollars.

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Operator: Thank you. Good day, everyone, and welcome to Oracle's Fourth Quarter 2024 Earnings Call. Today's call is being recorded, and now I would like to turn the conference over to Ken Bond. Please go ahead. Ken Bond: Thank you, Krista. Good afternoon, everyone, and welcome to Oracle's Fourth Quarter and Fiscal Year 2024 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. 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 recent re

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