CLAIM #47267 · ORCL (ORCL) · 2024Q1 earnings call · Sep 11, 2023 · due May 31, 2024
“Yes, okay. Let me start with yes. And as I want to remind you of course, I want to remind you 29% of bigger numbers is more. Okay. So, you know, last year we were smaller, and this year we continue to plan on doing the 29% may be better, all of it is dependent on us getting our data centers filled up and built out as fast as possible.”
Safra Catz · CEO
In context
“nk you. My question is for Safra, I think. Safra, if the organic constant currency cloud growth was in line with what you did last year and what you want to do for this year at 29%, while license, though it was a difficult comp it was a bit weaker, at least than the street was expecting. And I also -- we also realize that cloud revenue for the same amount of business booked will be a lot less than the equivalent license revenue in the quarter. But does this mean we are seeing a move with stronger momentum to the cloud this quarter than we have seen? And I guess just to clarify, given your guidance for the second quarter, you said you're maintaining your longer-term. Safra, I just wanted to clarify. Are you maintaining your constant currency organic cloud guidance for the year? Safra Catz: Yes, okay. Let me start with yes. And as I want to remind you of course, I want to remind you 29% of bigger numbers is more. Okay. So, you know, last year we were smaller, and this year we continue to plan on doing the 29% may be better, all of it is dependent on us getting our data centers filled up and built out as fast as possible. The level of demand we have is stunning. Stunning is the only word I can use, and I don't want to get over overly exuberant simply because we do have to continue to build out our systems, et cetera. And so yes, a very strong momentum to the cloud, and again with the focus we told you. We are bringing our customers to the cloud and that's going to have us focusing on growing that and stronger momentum there. John DiFucci: Okay, great. Very clear. Yes and yes. Got it. Thanks. Ken Bond: All right. Thank you, John, and thank you, Lisa. A telephonic replay of this conference call will be available for 24 hours on our Investor Relations website. Thank you for joining us today. And with that, I'll turn the call back to Lisa for closing. Operator: And that does conclude today's presentation. Than”
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SEC filings for ORCL ↗ · Claim quote is verbatim from the 2024Q1 earnings call.