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CLAIM #47266 · ORCL (ORCL) · 2024Q1 earnings call · Sep 11, 2023 · due Nov 30, 2023

And on the expense side, we still have a ways to go, but I think it will become more obvious to you next quarter the changes we've made, as they play out through the income statement more clearly.

Safra Catz · CEO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
changes we've made, as they play out through the income statement more clearly
Reported
The operating margin was 43%, up from 41% last year

In context

ors is they don't make mistakes. Well, either they make the same mistake over and over again or once you fix the mistake, you fix it everywhere. So the code gen -- we are using a code generator, and to write the new features in Cerner and it's coming along very, very nicely. Also on the business side of things, we -- again, we think that Cerner business is going to get stronger and stronger again, Safra made the point. The old Cerner business you'd sell licenses. You sell a big contract and you get a big chunk of revenue in that quarter. Our new business model, as you know is cloud, so we get a big Cerner award and we get that money now over time rather than all upfront. So that's, if you will, a bit of a revenue headwind, but the Cerner business is doing extraordinarily well. Safra Catz: And on the expense side, we still have a ways to go, but I think it will become more obvious to you next quarter the changes we've made, as they play out through the income statement more clearly. And so you'll have a better comparison, Q2 to Q2, which will be a full non-deal quarter for you to look at. But you know us, we are always looking to save as much as we can, and to spend as little while still really transforming Cerner into a modern system in its entirety. Larry Ellison: Let me let me just reinforce what Safra just said. We love to save money. One of the things we did with our data centers is we automated them. We -- what we saved labor costs and we saved -- we have better security and better reliability because we eliminated human error. With Cerner, the rewrite of Cerner, it's not armies of programmers that are going be rewriting this. We are generating the new Millennium software using APEX. And that's also going to save us a lot of human labor and generate higher qual

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SEC filings for ORCL · Claim quote is verbatim from the 2024Q1 earnings call.