“As we drive Cerner profitability to Oracle standards and continue to benefit from economies of scale in the cloud, we will not only continue to grow operating income, but we will also grow the operating margin percentages.”

In context

“mid-90s gross margins, represented about 62% of cloud services and license support revenue, and now it's down to 53%. But this is happening because our cloud services are growing much, much faster than license support, even as license support continues to grow. Most importantly, gross profit dollars of cloud services and license support grew 19% with Cerner, 10% excluding Cerner in Q4. Additionally, I would note that IaaS gross margins improved substantially from last year, and I expect IaaS gross margins will continue to improve. While we have continued to build data center capacity, we've also seen our margins go higher as these new cloud regions fill up. Non-GAAP operating income was $6.2 billion, up 12% from last year. The operating margin was 44% as we continued to integrate Cerner. As we drive Cerner profitability to Oracle standards and continue to benefit from economies of scale in the cloud, we will not only continue to grow operating income, but we will also grow the operating margin percentages. The non-GAAP tax rate for the quarter was 9.2%, and the non-GAAP EPS was $1.47 in U.S. dollars, up 8% in USD, 10% in constant currency. The GAAP EPS was $1.19. For the full fiscal year, total company revenue was $50 billion, up 22%. And excluding revenue, total revenue grew 7%. Total application subscriptions were 35%, and 10%, excluding Cerner, compared to 8% last year. And total infrastructure grew 10%, compared with 5% growth last year. Clearly, our revenue growth continued to accelerate again this year as investments into our cloud businesses are paying off. Total cloud services and license support revenue was $35.3 billion, up 21%. Total cloud services by itself were up 50%, to $15.9 billion. And excluding Cerner, total cloud services were up 29%, to $13.6 billion. And with revenue g”