“I expect the infrastructure revenue growth rate will continue to ramp higher through the fiscal year.”

In context

“or 73% of total company revenue. Total cloud revenues, when annualized are now $10.7 billion and grew 22%, with cloud bookings growing faster than our cloud revenue growth rate. And as a result, we expect cloud revenue will accelerate further and exit the fiscal year in the mid-20s, potentially higher. GAAP application subscription revenues were $3.1 billion, up 8% organically in constant currency and our highest growth rate in four years. Fusion apps were up 30% with strategic back-office applications now having annualized revenue of $4.9 billion and growing 30%, including Fusion ERP up 35%, Fusion HCM up 25%, and NetSuite ERP up 28%. GAAP infrastructure subscription revenues were $4.4 billion, up 5% and excluding legacy hosting services, infrastructure cloud services grew more than 50%. I expect the infrastructure revenue growth rate will continue to ramp higher through the fiscal year. OCI consumption revenue, which includes Autonomous Database, was up 86% in constant currency and total Cloud at Customer revenue was up 45%. Database subscription revenues, including database support and database cloud services were up 3% in constant currency. License revenues were $1.2 billion, up 16% amongst our very best quarters over the last 10 years and license growth was not dependent on any mega deals. We saw excellent performance in technology, our vertical businesses as well as North America and Latin American regions. So all in, total revenues for the quarter were $10.4 billion, up 6% in constant currency. Operating expenses were up 6% this quarter. The gross margin for cloud services and license support was 84%, and gross profit dollars grew 5% in constant currency. I expect t”