“We expect those cloud database revenues collectively will be the third leg of revenue growth alongside OCI and strategic SaaS.”

In context

“bscription revenues, which includes product support were $4.8 billion and up 7%. Our strategic back-office SaaS applications now have annualized revenues of $8.2 billion and were up 18%. Infrastructure subscription revenues, which includes license support, were $5.8 billion and up 14%. Infrastructure cloud services revenue was up 46% and up 49% when you are excluding our legacy hosting services. Our infrastructure cloud services now have an annualized revenue of $8.6 billion, OCI consumption revenue was up 56% and demand continued to outstrip supply. Cloud database services, which were up 23% and now have annualized revenues of $2.1 billion. Very importantly, as on-premise databases migrate to the cloud, on OCI directly or through our database at cloud services with Azure, Google and AWS. We expect those cloud database revenues collectively will be the third leg of revenue growth alongside OCI and strategic SaaS. Database subscription revenues, which includes database license support, were up 4%. Software license revenues were up 8% to $870 million, including Java, which saw excellent growth. So all in, total revenue for the quarter were $13.3 billion, up 8% from last year. Shifting to gross profit and operating income. The gross profit dollars of cloud services and license support grew 9% in Q1 as our cloud businesses continue to scale the gross margins of both cloud applications and cloud infrastructure has each been climbing higher. We continue to display operating expense discipline with Q1 operating income growing 14% and the operating margin was 43%. The non-GAAP tax rate for the quarter was 18.9% with non-GAAP EPS at US$1.39, up 17% in USD, up 18% in constant currency. The GAAP EPS was US$1”