CLAIM #47292 · ORCL (ORCL) · 2024Q2 earnings call · Dec 11, 2023 · due May 31, 2024
“Yeah, so let me just tell you, I think for the year, for the full fiscal year, Cerner will be sort of negative 1 to 2 points. But that will be it. It'll end this fiscal year. And from then on, it will be a growth story.”
Safra Catz · CEO
In context
“es. We're adding additional products for hospitals to keep track of their inventory, for hospitals to manage their workforce, really what we think of is our health division in Oracle has products for the entire healthcare ecosystems. Payers, including governments, including insurance companies, providers, including ambulatory clinics and hospitals, pharmaceutical companies, research companies, and public health departments in national governments and state governments. So we have products for the entire healthcare ecosystem, which is a much larger footprint than Cerner ever had. So we are going after a much larger market than Cerner was. So we expect Cerner to be a growth story. I guess that's what I'm getting at. Mark Moerdler: Right, that's where I'm going with the question. Safra Catz: Yeah, so let me just tell you, I think for the year, for the full fiscal year, Cerner will be sort of negative 1 to 2 points. But that will be it. It'll end this fiscal year. And from then on, it will be a growth story. So it will no longer be a drag on Oracle growth. Okay? Mark Moerdler: Perfect. Thank you so much. I really appreciate it. It was very helpful. Safra Catz: Great. Operator: Your next question comes from the line of Siti Panigrahi with Mizuho. Your line is open. Siti Panigrahi: Thanks for taking my question, Larry and Safra. Many mission critical workloads still run on Oracle database, and you have a sticky [Indiscernible] team. And we expect Oracle will start migrating those database workloads to OCI, which will bring 3x revenue uplift, which you call even the third leg of cloud growth. You also have now OCI inside Azure data center. So my question is, how does this being multi-cloud change your outlook for Oracle database? And what are you hearing from your database customer in terms of t”
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SEC filings for ORCL ↗ · Claim quote is verbatim from the 2024Q2 earnings call.