“We continue to expect organic revenue growth and our cloud business will accelerate substantially in FY '23.”

In context

“elves to revise our results or these forward-looking statements in light of new information or future events. Before taking questions, we will begin with a few prepared remarks. And with that, I'd like to turn the call over to Safra. Safra Catz: Thanks, Ken, and good afternoon, everyone. We had an excellent quarter with total revenue growing 23% in constant currency and beating the high-end of our guidance. We also had a great organic quarter with total revenue growing 8% in constant currency. This was on top of a fantastic Q4 last quarter. And as you can see from the numbers, we continue to get excellent returns on the investments we've been making over the last few years in products, infrastructure and our sales organization. We are seeing company-specific and product-specific momentum. We continue to expect organic revenue growth and our cloud business will accelerate substantially in FY '23. The currency headwind this quarter was much higher than the 3% headwind that was present when we gave guidance. It was actually 6 points, even though due to rounding, it may look like 5%. And that's a currency headwind to total revenue, it was in fact 6 points. And yet we still exceeded our forecasts on a reported basis and we beat our constant currency revenue forecast by $200 million. We saw similar currency headwinds in EPS which had an $0.08 negative effect much worse than the $0.05 headwind present at the time of guidance in June. It's because of the significant and volatile swings in currencies, that I always discuss our results using constant currency growth rate, and so that you have a clear view of the business as we manage it. Now to the numbers and there's a lot here. I'm going”