CLAIM #47144 · ORCL (ORCL) · 2022Q4 earnings call · Jun 13, 2022 · due May 31, 2023
“As such, I expect our CapEx spend will be higher in FY '23 to meet the demand.”
Safra Catz · CEO
In context
“0 million per quarter from guidance that we used to receive from these customers. Taking all that into account, I do expect our cloud business, which grew 22% this year, will organically grow more than 30% in constant currency in FY '23. Cloud service and license support will also see growth acceleration and could well see double-digit organic growth. As I said earlier, our fundamental principle is to grow EPS while accelerating cloud revenue growth. Given our increasing confidence in organic revenue growth, we will continue to prudently invest back in the business and you can already see the returns in our performance. Revenue growth accelerated from 2% in FY '21 to 7% this year. Clearly, there's strong demand for our cloud services, and we intend to capitalize it -- to capitalize on it. As such, I expect our CapEx spend will be higher in FY '23 to meet the demand. We expect to add another 6 regions in fiscal 2023 in addition to the 38 cloud regions across 20 countries that we have already serving our customers. I also want to share how we will be running Cerner since it will impact their contribution to Oracle going forward. We are already working actively to build and implement world-class health care cloud capabilities. Larry will go over that. This means that we are reviewing their entire product portfolio to identify areas where we can include Oracle technology rather than third-party products as well as moving them to OCI. These efforts will deliver a more stable, secure and innovative product portfolio for customers while using less third-party products. We remain confident in our ability to grow Cerner's top line and bottom line faster than”
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SEC filings for ORCL ↗ · Claim quote is verbatim from the 2022Q4 earnings call.