甲骨文 (ORCL) 2022 Q2 法說會逐字稿

Welcome to Oracle's Second Quarter 2022 Earnings Conference Call.

歡迎參加甲骨文 2022 年第二季度收益電話會議。

Now I'd like to turn the call over to Ken Bond, Senior Vice President.

現在我想把電話轉給高級副總裁 Ken Bond。

Thank you, Erica, and good afternoon, everyone, and welcome to Oracle's Second Quarter Fiscal Year 2022 Earnings Conference Call.

謝謝大家，Erica，大家下午好，歡迎參加甲骨文 2022 財年第二季度收益電話會議。

A copy of the press release and financial tables, which includes a GAAP to non-GAAP reconciliation and other supplemental financial information, can be viewed and downloaded from our Investor Relations website.

可以從我們的投資者關係網站查看和下載新聞稿和財務表的副本，其中包括 GAAP 與非 GAAP 對賬和其他補充財務信息。

Additionally, a list of many customers who purchased Oracle Cloud Services or went live on Oracle Cloud recently will be available from the Investor Relations website following this call.

此外，在本次電話會議之後，投資者關係網站將提供最近購買 Oracle 雲服務或在 Oracle 雲上上線的許多客戶的列表。

On the call today are Chairman and Chief Technology Officer, Larry Ellison; and CEO, Safra Catz.

今天的電話會議是董事長兼首席技術官拉里·埃里森（Larry Ellison）；和首席執行官，薩夫拉卡茨。

As a reminder, today's discussion will include forward-looking statements, including predictions, expectations, estimates or other information, that might be considered forward-looking. Throughout today's discussion, we will present some important factors relating to our business which may potentially affect these forward-looking statements. These forward-looking statements are also subject to risks and uncertainties that may cause actual results to differ materially from the statements being made today. As a result, we would caution you against placing undue reliance on these forward-looking statements, and we encourage you to review our most recent reports, including our 10-K and 10-Q and any applicable amendment, for a complete discussion of these factors and other risks that may affect our future results or the market price of our stock. And finally, we're not obligating ourselves to revise our results or these forward-looking statements in light of new information or future events.

提醒一下，今天的討論將包括前瞻性陳述，包括可能被視為前瞻性的預測、預期、估計或其他信息。在今天的討論中，我們將介紹一些與我們的業務相關的重要因素，這些因素可能會影響這些前瞻性陳述。這些前瞻性陳述也受到風險和不確定性的影響，可能導致實際結果與今天的陳述存在重大差異。因此，我們提醒您不要過分依賴這些前瞻性陳述，我們鼓勵您查看我們最近的報告，包括我們的 10-K 和 10-Q 以及任何適用的修訂，以全面討論這些可能影響我們未來業績或我們股票市場價格的因素和其他風險。最後，我們沒有義務根據新信息或未來事件修改我們的結果或這些前瞻性陳述。

Before taking questions, we'll begin with a few prepared remarks. And with that, I'd like to turn the call over to Safra.

在提問之前，我們將從一些準備好的評論開始。有了這個，我想把電話轉給 Safra。

Thanks, Ken, and good afternoon, everyone. I'm pleased to report another quarter of increasing revenue growth as the fastest-growing parts of the business continue to become a larger percentage of our business. We had a fantastic quarter as total revenue grew 6% in constant currency, above the high end of my guidance, with broad-based outperformance across the company. Q3 revenue growth looks like it will continue even higher, but let me save that for the guidance discussion.

謝謝，肯，大家下午好。我很高興地報告，隨著業務中增長最快的部分繼續成為我們業務的更大比例，收入增長又增加了一個季度。我們有一個很棒的季度，總收入按固定匯率計算增長了 6%，高於我的指導上限，整個公司的表現普遍優於預期。第三季度的收入增長看起來會繼續更高，但讓我把它留到指導討論中。

Earnings were also strong with non-GAAP EPS $0.09 above the high end of my constant currency guidance. We achieved this outperformance despite the U.S. dollar strengthening since I gave guidance as we saw a currency headwind of nearly $100 million to revenue and $0.01 to EPS. So the USD results, which are excellent and above guidance, are even stronger than they appear.

收益也很強勁，非 GAAP 每股收益高於我的固定匯率指引的高端 0.09 美元。儘管美元走強，但我們仍實現了這一優異表現，因為我們看到了近 1 億美元的收入和 0.01 美元的匯率逆風。因此，出色且高於指引的美元業績甚至比看起來更強勁。

Before I go through the numbers, though, I wanted to comment on what we are seeing in the market that is driving our accelerating revenue growth. As I've mentioned on previous calls, we have a highly differentiated strategy from our competitors where we are the only company able to offer the combination of applications and infrastructure in the cloud. We have best-of-breed capabilities in both infrastructure and apps, like HR and ERP, but also a highly differentiated set of industry-specific cloud SaaS applications. And of course, our second-generation cloud with autonomous database are unique in their performance, security and dependability. And because we have decades of experience in mission-critical systems, our customers can depend on us being up and available when they need us.

不過，在我查看這些數字之前，我想評論一下我們在市場上看到的推動我們收入加速增長的因素。正如我在之前的電話會議中提到的那樣，我們有一個與競爭對手高度差異化的戰略，我們是唯一一家能夠在雲中提供應用程序和基礎設施組合的公司。我們在基礎架構和應用程序（如 HR 和 ERP）方面擁有同類最佳的功能，而且還擁有一組高度差異化的行業特定雲 SaaS 應用程序。當然，我們具有自主數據庫的第二代云在性能、安全性和可靠性方面是獨一無二的。而且由於我們在關鍵任務系統方面擁有數十年的經驗，我們的客戶可以依靠我們在他們需要我們時隨時待命。

Our unique capabilities are attracting customers, especially as they consider how to conduct their own digital transformation in the complex industries in which they compete. They want us to know as much about their business as they do, whether it's telco, financial services, utilities, retail and many others and to partner with them to modernize. Once a company thinks beyond simple dev test and other rudimentary cloud workloads and move their technology focus to mission-critical projects, they invariably turn to Oracle.

我們獨特的能力正在吸引客戶，尤其是當他們考慮如何在他們競爭的複雜行業中進行自己的數字化轉型時。他們希望我們像他們一樣了解他們的業務，無論是電信、金融服務、公用事業、零售和許多其他業務，並與他們合作實現現代化。一旦一家公司超越了簡單的開發測試和其他基本的雲工作負載，並將其技術重點轉移到任務關鍵型項目上，他們總是會求助於甲骨文。

Our focus on customer success is driving more references and new opportunities with both existing customers and with entirely new accounts. And of course, we, ourselves, are an Oracle Fusion full suite user, and I'm sure it is not lost on any of you and it's not lost on our prospects and customers that we are announcing our results 9 days after the quarter closed because of our systems and their embedded processes.

我們對客戶成功的關注正在為現有客戶和全新客戶帶來更多參考和新機會。當然，我們自己是 Oracle Fusion 全套用戶，我相信你們中的任何一個人都不會迷失，我們的潛在客戶和客戶也不會迷失，我們將在季度結束後 9 天宣布我們的業績因為我們的系統及其嵌入式流程。

Okay, back to the numbers. And from here on, I'll review our non-GAAP results using constant dollar growth rates, Unless I say otherwise.

好的，回到數字。從這裡開始，除非我另有說明，否則我將使用恆定的美元增長率審查我們的非公認會計原則結果。

So total Cloud Services and License Support revenues for the quarter were $7.6 billion, up 6% in constant currency and accounted for 73% of total company revenue. Total cloud revenues, when annualized, are now $10.7 billion and grew 22% with cloud bookings growing faster than our cloud revenue growth rate. And as a result, we expect cloud revenue will accelerate further and exit the fiscal year in the mid-20s, potentially higher.

因此，本季度雲服務和許可支持總收入為 76 億美元，按固定匯率計算增長 6%，占公司總收入的 73%。雲計算總收入（按年計算）現在為 107 億美元，增長 22%，其中云預訂的增長速度快於我們的雲收入增長率。因此，我們預計雲收入將進一步加速，並在 20 年代中期退出本財年，甚至可能更高。

GAAP application subscription revenues were $3.1 billion, up 8% organically in constant currency and our highest growth rate in 4 years. Fusion Apps were up 30% with strategic back-office applications now having annualized revenue of $4.9 billion and growing 30%, including Fusion ERP, up 35%; Fusion HCM, up 25%; and NetSuite ERP, up 28%.

GAAP 應用程序訂閱收入為 31 億美元，按固定匯率計算有機增長 8%，是我們 4 年來的最高增長率。 Fusion Apps 增長了 30%，戰略後台應用程序現在的年收入為 49 億美元，增長了 30%，包括 Fusion ERP，增長了 35%； Fusion HCM，增長 25%；和 NetSuite ERP，增長 28%。

GAAP infrastructure subscription revenues were $4.4 billion, up 5%. And excluding legacy hosting services, infrastructure cloud services grew more than 50%. I expect the infrastructure revenue growth rate will continue to ramp higher through the fiscal year.

GAAP 基礎設施訂閱收入為 44 億美元，增長 5%。不包括傳統託管服務，基礎設施雲服務增長超過 50%。我預計基礎設施收入增長率將在本財年繼續走高。

OCI consumption revenue, which includes autonomous database, was up 86% in constant currency. And total cloud customer revenue was up 45%.

包括自治數據庫在內的 OCI 消費收入按固定匯率計算增長了 86%。雲客戶總收入增長了 45%。

Database subscription revenues, including database support and data-based cloud services, were up 3% in constant currency. License revenues were $1.2 billion, up 16%, amongst our very best quarters over the last 10 years. And license growth was not dependent on any mega deals. We saw excellent performance in technology, our vertical businesses as well as North America and Latin American regions.

包括數據庫支持和基於數據的雲服務在內的數據庫訂閱收入按固定匯率計算增長了 3%。許可收入為 12 億美元，增長 16%，是我們過去 10 年最好的季度之一。許可證的增長不依賴於任何大型交易。我們在技術、垂直業務以及北美和拉丁美洲地區都看到了出色的表現。

So all in, total revenues for the quarter were $10.4 billion, up 6% in constant currency.

因此，本季度總收入為 104 億美元，按固定匯率計算增長 6%。

Operating expenses were up 6% this quarter. The gross margin for Cloud Services and License Support was 84%, and gross profit dollars grew 5% in constant currency. I expect the full year growth in gross profit dollars for Cloud Services and License Support will be similar to or better than last year.

本季度的運營費用增長了 6%。雲服務和許可證支持的毛利率為 84%，按固定匯率計算，毛利潤增長了 5%。我預計雲服務和許可證支持的全年毛利潤增長將與去年相似或更好。

Non-GAAP operating income was $4.9 billion, up 7% from last year, and the operating margin was 47%.

Non-GAAP 營業收入為 49 億美元，比去年增長 7%，營業利潤率為 47%。

The non-GAAP tax rate for the quarter was 19.2%, slightly higher than our base rate of 19%. And earnings per share was $1.21 in U.S. dollars, up 14% in U.S. dollars, up 15% in constant currency.

本季度的非公認會計原則稅率為 19.2%，略高於我們 19% 的基準稅率。每股收益為 1.21 美元，按美元計算增長 14%，按固定匯率計算增長 15%。

During the quarter, we recognized GAAP acquisition-related and other expenses totaling $4.7 billion which substantially consisted of litigation-related charges that will not recur. They relate to a dispute that arose when we hired my former co-CEO in 2010. As a result of this onetime charge, GAAP net income was a negative $1.2 billion. The GAAP tax rate was 16.6% due to some discrete item, and the GAAP loss was $0.46 per share.

在本季度，我們確認了總計 47 億美元的 GAAP 收購相關費用和其他費用，其中主要包括不會再次發生的訴訟相關費用。它們與 2010 年我們聘請我的前聯合首席執行官時出現的爭議有關。由於這項一次性收費，GAAP 淨收入為負 12 億美元。由於某些離散項目，GAAP 稅率為 16.6%，GAAP 虧損為每股 0.46 美元。

Operating cash flow for the last 4 quarters was $10.3 billion, and our free cash flow over the same period was $7.1 billion. Both results were negatively affected by the litigation charges I mentioned.

過去四個季度的經營現金流為 103 億美元，同期我們的自由現金流為 71 億美元。這兩項結果都受到我提到的訴訟指控的負面影響。

Capital expenditures for the last 4 quarters were $3.1 billion, and CapEx for Q2 alone was $925 million. And we're on track to invest $4 billion in CapEx this year.

過去四個季度的資本支出為 31 億美元，僅第二季度的資本支出為 9.25 億美元。我們今年有望在資本支出上投資 40 億美元。

We now have nearly $23 billion in cash and marketable securities. The short-term deferred revenue balance is nearly $8 billion, up slightly in constant currency from a year ago due to timing differences in customer payments, with gross deferred revenue growing 5% in constant currency.

我們現在擁有近 230 億美元的現金和有價證券。由於客戶付款的時間差異，短期遞延收入餘額接近 80 億美元，按固定匯率計算比一年前略有增加，按固定匯率計算，總遞延收入增長 5%。

The remaining performance obligation or RPO balance is $37.2 billion, up 11% in constant currency, due to strong bookings. Approximately 59% is expected to be recognized as revenue over the next 12 months.

由於預訂量強勁，剩餘的履約義務或 RPO 餘額為 372 億美元，按固定匯率計算增長 11%。預計未來 12 個月將確認約 59% 的收入。

As we've said so many times before, we're committed to returning value to our shareholders through technical innovation, strategic acquisitions, stock repurchases, prudent use of debt and a dividend. This quarter, we repurchased 77 million shares for a total of $7 billion. And over the last 10 years, we've reduced the shares outstanding by 47% at an average price that's about half the current share price. The Board of Directors increased the authorization for share repurchases by an additional $10 billion. We've paid out dividends of $3.4 billion over the last 12 months, and the Board of Directors again declared a quarterly dividend of $0.32 per share.

正如我們之前多次說過的，我們致力於通過技術創新、戰略收購、股票回購、審慎使用債務和分紅來為股東回報價值。本季度，我們以總計 70 億美元的價格回購了 7700 萬股股票。在過去的 10 年裡，我們以大約是當前股價一半的平均價格將流通股減少了 47%。董事會將股票回購的授權增加了 100 億美元。我們在過去 12 個月中支付了 34 億美元的股息，董事會再次宣布季度股息為每股 0.32 美元。

Now the guidance. I'm going to start by reiterating our expectation that full year 2022 revenue growth will accelerate from 2021 for all the reasons we've already seen so far this year. Given the strong performance in the first half, I now expect that we will see full year total revenue finish solidly in the mid-single digits, led by cloud revenue growth exiting the year in the mid-20s. Cloud is fundamentally a more profitable business compared to on-premise, and I expect that our operating margins this year will be the same or better than pre-pandemic levels of 44%.

現在指導。我將首先重申我們的預期，即由於我們今年迄今為止已經看到的所有原因，2022 年全年收入增長將從 2021 年開始加速。鑑於上半年的強勁表現，我現在預計全年總收入將穩定在中個位數，這主要得益於 20 年代中期的雲收入增長。與內部部署相比，雲從根本上是一項更有利可圖的業務，我預計我們今年的營業利潤率將與大流行前 44% 的水平相同或更好。

Let me now turn to my guidance for Q3, which I'll provide on a non-GAAP basis. The U.S. dollar strengthened dramatically in November. I know you all saw that. And assuming currency exchange rates remain the same as they are now, which we have no idea if they will or not, I expect we will see a currency headwind of 3% for revenue and $0.05 for EPS in Q3. Total revenue for Q3 is expected to grow between 6% to 8% in constant currency and grow between 3% to 5% in USD. Clearly, the midpoint of the range is 7%, and that is higher than the 6% we just reported in Q2 and higher than the 2% we reported in Q1. So everything is trending in the right direction. Cloud Service and License Support revenue for Q3 is expected to grow between 6% to 8% in constant currency and grow between 3% to 5% in USD.

現在讓我談談我對第三季度的指導，我將在非公認會計原則的基礎上提供。美元在 11 月大幅走強。我知道你們都看到了。假設貨幣匯率與現在保持不變，我們不知道他們是否會這樣做，我預計我們將看到第三季度收入和每股收益 0.05 美元的貨幣逆風。預計第三季度的總收入按固定匯率計算將增長 6% 至 8%，按美元計算將增長 3% 至 5%。顯然，該範圍的中點是 7%，這高於我們剛剛在第二季度報告的 6%，也高於我們在第一季度報告的 2%。所以一切都在朝著正確的方向發展。第三季度雲服務和許可支持收入預計將增長 6% 至 8%，以美元計算，增長 3% 至 5%。

Non-GAAP EPS for Q3 is expected to grow between 2% and 6% in constant currency and between -- be between $1.19 and $1.23 in constant currency. Non-GAAP EPS for the quarter is expected to grow between negative 2% and positive 2% in USD and be between $1.14 and $1.18 in USD. My EPS guidance for Q3 assumes a base tax rate of 19%. However, onetime tax events could cause actual tax rates for any given quarter to be higher or lower. But I expect that in normalizing for these onetime events, our non-GAAP tax rates will average around 19% or so.

預計第三季度非公認會計原則每股收益將增長 2% 至 6%，按固定貨幣計算，介於 1.19 美元至 1.23 美元之間。本季度的非公認會計原則每股收益預計將在負 2% 和正 2% 之間增長，以美元計算在 1.14 美元和 1.18 美元之間。我對第三季度的每股收益指導假設基本稅率為 19%。但是，一次性稅務事件可能會導致任何給定季度的實際稅率更高或更低。但我預計，在這些一次性事件的正常化過程中，我們的非 GAAP 稅率平均約為 19% 左右。

With that, I'll turn it over to Larry for his comments.

有了這個，我會把它交給拉里徵求他的意見。

Thank you, Safra.

謝謝你，薩夫拉。

All right. I'm going to discuss Oracle's cloud ERP status and strategy. So how big is our on-premise ERP business today? I mean, a lot of the people -- a lot of the companies, like Microsoft, did a great job of moving their entire Microsoft Office install base into the cloud to dramatically increase the size of their cloud business. Unfortunately, we didn't have the same option or opportunity, so I think -- to me, I think you're going to find this interesting.

好的。我將討論甲骨文的雲 ERP 現狀和戰略。那麼，我們今天的本地 ERP 業務有多大？我的意思是，很多人——很多公司，比如微軟，在將他們的整個微軟 Office 安裝基礎遷移到雲中以顯著增加他們的雲業務規模方面做得很好。不幸的是，我們沒有相同的選擇或機會，所以我想——對我來說，我想你會覺得這很有趣。

So how big is our on-premise business today? Well, we had 7,500 customers in Oracle on-premise. Their ERP, made up of E-Business Suite, PeopleSoft and JD Edwards. Only 1,000 of those 7,500 have moved to Fusion Cloud ERP. Now we have not lost any of these customers to competitors. We expect all the remaining 6,500 to move to Fusion ERP, but it hasn't happened yet. That's all upside. That's all upside, and I think a lot of people don't really realize that how -- so now let's migrate over and look at how big is our cloud ERP business today. Well, round number is $5 billion a year revenue, and we have 8,500 Fusion customers. But remember, only 1,000 of those 8,500 came from our old on-premise business. 6,500, plenty to come.

那麼我們今天的本地業務有多大？好吧，我們在 Oracle 內部有 7,500 個客戶。他們的 ERP 由 E-Business Suite、PeopleSoft 和 JD Edwards 組成。這 7,500 人中只有 1,000 人已遷移到 Fusion Cloud ERP。現在，我們沒有將這些客戶中的任何一個輸給競爭對手。我們預計所有剩餘的 6,500 人都將遷移到 Fusion ERP，但還沒有發生。這都是好的一面。這一切都是好的，我認為很多人並沒有真正意識到這一點——所以現在讓我們遷移過來看看我們今天的雲 ERP 業務有多大。嗯，整數是每年 50 億美元的收入，我們有 8,500 名 Fusion 客戶。但請記住，這 8,500 人中只有 1,000 人來自我們舊的本地業務。 6,500，還有很多。

So 7,500 of these 8,500 were not running Oracle ERP before we came out with our cloud product. Those are all new customers, add to that the 28,000 new NetSuite customers. So Oracle has a total of 35,500 cloud ERP customers that are new to Oracle. Only 1,000 of our on-premise install base has migrated so far. Let me repeat that. 35,500 net new cloud ERP customers we got in the last few years, only 1,000 from our installed base. That's going to be coming to us later on.

因此，在我們推出雲產品之前，這 8,500 家中有 7,500 家沒有運行 Oracle ERP。這些都是新客戶，再加上 28,000 個新 NetSuite 客戶。所以甲骨文共有 35,500 名云 ERP 客戶是甲骨文的新客戶。到目前為止，我們的本地安裝基礎中只有 1,000 個已遷移。讓我重複一遍。在過去幾年中，我們獲得了 35,500 個淨新的雲 ERP 客戶，而我們的安裝基礎只有 1,000 個。這將在稍後出現。

So how fast is cloud ERP revenue growing about? So growing about 30% a year. And so let's look out 5 years and ask the question: How big will we be in 5 years? And I think the number is going to be approaching $20 billion in cloud ERP, where the majority of those customers are not people who are migrating -- our customers that are migrating from Oracle's on-prem business, but they're migrating from other people's on-prem business. Whether it's a small company like Infor or a large company like SAP or a variety of other companies, the vast majority of our cloud ERP customers are not coming from our installed base. They're coming from someone else's installed base. And again, yes, 85% of our current -- that we have are from someone else's installed base.

那麼雲 ERP 收入增長速度有多快呢？所以每年增長大約30%。因此，讓我們展望 5 年並提出一個問題：5 年後我們將有多大？我認為這個數字將接近 200 億美元的雲 ERP，其中大多數客戶不是正在遷移的人——我們的客戶是從 Oracle 的本地業務遷移的，但他們是從其他人的本地業務。無論是像 Infor 這樣的小公司，還是像 SAP 這樣的大公司或其他各種公司，我們的絕大多數雲 ERP 客戶都不是來自我們的安裝基礎。它們來自其他人的安裝基礎。再一次，是的，我們現有的 85% - 我們擁有的 85% 來自其他人的安裝基礎。

So what are our margins in this 5 year -- let's say, we're estimating $20 billion cloud ERP business. Well, it's scale. At that scale, that's about an 85% margin in that business. And as Safra pointed out earlier in her comments, the cloud business is inherently much more profitable and much more predictable than our old on-premise business. So we expect 5 years from now -- and again, these are just estimates. But based on our based on growth rates and the size of our current business, we expect to have about 30,000 -- 5 years from now, 30,000 Fusion customers, plus 100,000 NetSuite customers, bringing in $20 billion at 85% margins.

那麼這 5 年我們的利潤率是多少——假設我們估計 200 億美元的雲 ERP 業務。嗯，是規模。在這種規模下，該業務的利潤率約為 85%。正如 Safra 早些時候在她的評論中指出的那樣，雲業務本質上比我們舊的本地業務更有利可圖，也更可預測。因此，我們預計從現在開始 5 年——再說一次，這些只是估計值。但根據我們基於增長率和我們當前業務的規模，我們預計從現在起的 5 年內將擁有大約 30,000 名 Fusion 客戶，以及 100,000 名 NetSuite 客戶，以 85% 的利潤率帶來 200 億美元的收入。

All right. So what's happening? I mean, how are we winning so many new customers? Where are they coming from? Who are we competing? Well, we have -- really, we only have 2 significant customers -- 2 competitors, 2 significant competitors: SAP and Workday. I've said this before. SAP did not build a true cloud product, and I'm going to explain what a true cloud product is in just a minute. But SAP, because they didn't build the cloud product, they bought some edge products around the cloud, but they didn't actually rebuild their software for the cloud. That's the same old 35-year-old software they've been selling forever. Their goal is simply to hold on to their installed base, but they are losing customers to us. This -- for example, this quarter Petronas, oil and gas -- big oil and gas customer moved over -- we have -- I gave a long presentation about a couple of us taking already a couple of hundred pretty good-sized SAP customers. But -- so we're doing very well against SAP and continue to do it well, SAP, winning Petronas and others this quarter.

好的。那麼發生了什麼？我的意思是，我們如何贏得這麼多新客戶？他們來自哪裡？我們在競爭誰？好吧，我們有 - 實際上，我們只有 2 個重要客戶 - 2 個競爭對手，2 個重要競爭對手：SAP 和 Workday。我以前說過這個。 SAP 沒有構建真正的雲產品，我將在稍後解釋什麼是真正的雲產品。但是 SAP，因為他們沒有構建雲產品，他們圍繞雲購買了一些邊緣產品，但他們實際上並沒有為雲重新構建他們的軟件。那是他們一直在銷售的 35 年前的舊軟件。他們的目標只是保住他們的安裝基礎，但他們正在將客戶流失給我們。這 - 例如，本季度 Petronas，石油和天然氣 - 大型石油和天然氣客戶搬遷 - 我們已經 - 我做了一個很長的介紹，關於我們中的幾個已經吸引了幾百個相當大的 SAP 客戶.但是 - 所以我們在對抗 SAP 方面做得很好，並繼續做得很好，SAP 在本季度贏得了 Petronas 和其他公司。

But Workday is very interesting because Workday does have a cloud product, and they've done quite well in HCM, but they have very few live. Try to find -- try to go and find live Workday ERP customers. Try to find any. So we're winning almost everything in cloud ERP. We're beating Workday -- I don't know, 98% of the time, we beat Workday. We -- and we're taking customers from SAP's installed base. They're still winning -- holding on to more of their base than we're taking, but we're making inroads.

但是Workday 很有意思，因為Workday 確實有云產品，而且他們在HCM 方面做得很好，但是他們的live 很少。嘗試尋找——嘗試去尋找實時的 Workday ERP 客戶。嘗試找到任何。因此，我們在雲 ERP 中幾乎贏得了一切。我們擊敗了工作日——我不知道，98% 的時間，我們擊敗了工作日。我們——而且我們正在從 SAP 的客戶群中吸引客戶。他們仍然在獲勝——他們的基地比我們要多，但我們正在取得進展。

So again, what's going on? Why are we winning? Well, we're winning because we have a true cloud product that is very, very feature-rich and very, very -- has a very low cost of ownership. So it's enormously capable, and it's not expensive compared with the old on-premise systems.

再說一次，發生了什麼事？我們為什麼會贏？嗯，我們贏了，因為我們有一個真正的雲產品，它功能非常非常豐富，而且非常非常 - 擁有成本非常低。因此，它功能強大，並且與舊的本地系統相比並不昂貴。

Our implementations, I mean, we've got implementations of medium, large companies that sometimes take 6 months. Now don't get me wrong. Someone like Bank of America took a few years. That was an SAP customer that we won, and that was just doing the Merrill Lynch division, took a few years. And then hopefully, we're going to continue to make progress at Bank of America. So we have -- in general, it's much faster and lower cost to implement our cloud product than to implement, let's say, SAP or even Workday. But much -- a gigantic difference with SAP.

我們的實施，我的意思是，我們有大中型公司的實施，有時需要 6 個月。現在不要誤會我的意思。像美國銀行這樣的公司花了幾年時間。那是我們贏得的一個 SAP 客戶，而那隻是美林部門，花了幾年時間。然後希望，我們將繼續在美國銀行取得進展。所以我們有 - 一般來說，實施我們的雲產品比實施 SAP 甚至 Workday 更快、成本更低。但是很多——與 SAP 的巨大差異。

Very easy to use. We have the user interface. There's 2 aspects. There's the computer interface that works on mobile phones and tablets and things like that, and then we have a voice digital assistant. You talk to our applications. You talk to all of our applications. You ask for reports. You ask questions. And I think it's like Alexa for the enterprise. All our apps run on smartphones, tablets, desktops, every app. Not a handful of apps are mobile. Every single app runs on smartphones, tablets, desktops. Every single app has a voice interface.

非常容易使用。我們有用戶界面。有2個方面。有適用於手機和平板電腦之類的計算機界面，然後我們有一個語音數字助理。您與我們的應用程序交談。您與我們所有的應用程序交談。你要求報告。你問問題。我認為這就像企業的 Alexa。我們所有的應用程序都可以在智能手機、平板電腦、台式機和每個應用程序上運行。不是少數應用程序是移動的。每個應用程序都可以在智能手機、平板電腦、台式機上運行。每個應用程序都有一個語音界面。

We have -- and this is what I mean by a true cloud product. We deliver a new version of Oracle Cloud ERP to 100% of our customers, all 8,500 customers, for Fusion. every 3 months. That's right. They get a new version with some -- hundreds or sometimes even thousands of new features. Every 3 months, they get that.

我們有——這就是我所說的真正的雲產品。我們為 100% 的客戶（全部 8,500 名客戶）提供了新版本的 Oracle Cloud ERP，用於 Fusion。每 3 個月。這是正確的。他們獲得了一個新版本，其中包含數百個甚至數千個新功能。每3個月，他們就會得到它。

Now why is that important? Well, I mean, because our customers want -- specifically in different industry, they don't want -- they don't all want the same new feature, depending on the industry you're in, depending on your size, depending on the country you're in, your 3 most important new features, new features you must have are different among a lot of different customers.

為什麼這很重要？嗯，我的意思是，因為我們的客戶想要——特別是在不同的行業，他們不想要——他們並不都想要相同的新功能，這取決於你所在的行業，取決於你的規模，取決於您所在的國家/地區，您的 3 個最重要的新功能，您必須擁有的新功能在許多不同的客戶中是不同的。

So in the old days with SAP, customers built this themselves. They went out and hired Accenture or somebody else, IBM Services when it was IBM Services, to build these features for them. Now the new model is -- you don't customize your product. You don't have to. Give us your list of new features that you need, and we'll build them and put them in the next release. And we can build them faster than you can. And you might have to wait 3 months or 4 months or 5 months before you get them a new version, but you get them quickly. And we're the ones that build them. And they're part of the standard product. They are not some customization that you have to maintain forever. So they're not expensive. In fact, they're free. They come with the product.

所以在過去使用 SAP 的時候，客戶自己構建了這個。他們出去聘請了埃森哲或其他公司，當時是 IBM 服務公司，為他們構建這些功能。現在新模型是——你不需要定制你的產品。你不必。向我們提供您需要的新功能列表，我們將構建它們並將它們放入下一個版本。我們可以比您更快地構建它們。您可能需要等待 3 個月或 4 個月或 5 個月才能獲得新版本，但您很快就會獲得它們。我們是建造它們的人。它們是標準產品的一部分。它們不是您必須永遠維護的定制。所以它們並不昂貴。事實上，它們是免費的。它們隨產品一起提供。

This is radically different than what SAP offers in their -- in what they call their cloud product, which I say is not a true cloud product because they don't have new versions every 3 months. They don't have new versions every 3 years in their so-called cloud product. You make all the same modifications you used to make by hiring people and customize. That's not the new model. That's not how it works in a real cloud system. That's a fundamental -- and every time they go in and modify the system, what if they make a mistake? What if they have a bug? That's going to make the system less reliable and more expensive, potentially slower. That doesn't happen with real cloud systems. We, the vendor, are responsible for enhancing it and then testing it on a regular cadence and responding to their requirements and delivering things to them in months, not years.

這與 SAP 在他們所謂的雲產品中提供的完全不同，我說這不是真正的雲產品，因為他們每 3 個月沒有新版本。他們在所謂的雲產品中沒有每 3 年發布一次新版本。您可以通過僱用人員和自定義進行所有相同的修改。那不是新模型。這不是它在真正的雲系統中的工作方式。這是一個基本原則——每次他們進入並修改系統時，如果他們犯了錯誤怎麼辦？如果他們有錯誤怎麼辦？這將使系統更不可靠、更昂貴，甚至可能更慢。真正的雲系統不會發生這種情況。我們，供應商，負責增強它，然後定期對其進行測試，並響應他們的要求，並在幾個月而不是幾年內向他們交付東西。

We're also on schedule to deliver some unprecedented new technology. We -- won't be long before when our customers upgrade every 3 months, they upgrade. And sometimes, they're down for an hour or so, and we're going to -- we're on schedule to deliver 0 downtime upgrades. So it won't be long now when our customers move to the new version. There'll be no downtime. Nobody else has this. Nobody else is working on.

我們還按計劃提供一些前所未有的新技術。我們——不久之後，當我們的客戶每 3 個月升級一次時，他們就會升級。有時，它們會停機一個小時左右，而我們將——我們按計劃提供 0 停機時間升級。因此，我們的客戶很快就會遷移到新版本。不會有停機時間。沒有其他人有這個。沒有其他人在工作。

And soon, all of our applications will be on the autonomous self-tuning maximum security database. I've said this before, what's the most important thing about the autonomous database? The money you save because there's no human labor. No, actually, the money -- it's good. The money you have to save because there's no human labor is good. But no human labor, no human errors, no security risks, no stolen data. Almost all of the -- not all, but almost all of the data that's been hacked out of other clouds has been happening because some human being made a mistake, left the port open, created a vulnerability. You can't do that with the autonomous database because human beings don't touch it. It is -- just like a self-driving car is safer than a car driven by a human being. A self-driving database is much safer and more secure than a database that is managed by human beings who make mistakes and cause problems.

很快，我們所有的應用程序都將在自主自調最高安全數據庫上。前面已經說過了，自治數據庫最重要的是什麼？您節省的錢是因為沒有人工。不，實際上，錢——這很好。因為沒有人工，你必須存的錢是好的。但是沒有人工，沒有人為錯誤，沒有安全風險，沒有被盜數據。幾乎所有——不是全部，而是幾乎所有從其他雲中被黑掉的數據都在發生，因為有人犯了一個錯誤，讓端口打開，造成了一個漏洞。自治數據庫無法做到這一點，因為人類不會接觸它。它是——就像自動駕駛汽車比人類駕駛的汽車更安全一樣。自動駕駛數據庫比由會犯錯誤和引起問題的人管理的數據庫要安全得多。

Okay. So I'll stop there, and I'm going to slightly turn a little bit and describe what's going on in the marketplace kind of on an -- from an industry perspective. Fusion ERP has been around -- out for a while, and we are beginning to roll up entire industries. We're adding the features for banking. I think on an earlier quarterly call, I said our 2 largest investment strategic industries, going forward, in ERP would be banking and health care. Not -- maybe not just ERP, but for the company in total will be banking and health care, and we're doing extremely well in those industries. Some of our live banking and financial service customers include JPMorgan, Bank of America, Bank of New York Mellon, HSBC, State Street, NatWest, Santander, Macquarie. I can go on and on and on with a long list of banks all over the world. But also, we have insurance customers: USAA, Nationwide, AAA and again -- and a lot more. I'm not going to list everybody. In fact, we provide a printed list at the end of every quarter of our -- all the new wins we had in the quarter.

好的。所以我會停在那裡，我會稍微轉向一點，從行業的角度描述市場上正在發生的事情。 Fusion ERP 已經出現了一段時間，我們開始捲入整個行業。我們正在添加銀行業務功能。我認為在早些時候的季度電話會議上，我說過我們在 ERP 中最大的兩個投資戰略行業將是銀行和醫療保健。不——也許不僅僅是 ERP，但對於公司而言，銀行和醫療保健總體上將是，我們在這些行業做得非常好。我們的一些實時銀行和金融服務客戶包括摩根大通、美國銀行、紐約梅隆銀行、匯豐銀行、道富銀行、NatWest、桑坦德銀行、麥格理銀行。我可以在世界各地列出一長串銀行。而且，我們還有保險客戶：USAA、Nationwide、AAA 等等——等等。我不會列出所有人。事實上，我們在每個季度結束時都會提供一份打印清單——我們在本季度獲得的所有新勝利。

And we had a lot of new logos in banking and financial services in Q2. We won Barclays. That was another big bank that we won. First Bank. In insurance, we won Ameritas, MoneyGram. And we had some major go-lives, huge go-lives at MetLife, Blackstone and Assurant. We're doing very well in financial services and specifically banking.

我們在第二季度的銀行和金融服務領域有很多新標識。我們贏了巴克萊。那是我們贏得的另一家大銀行。第一銀行。在保險方面，我們贏得了 Ameritas、MoneyGram。我們在 MetLife、Blackstone 和 Assurant 進行了一些重要的上線活動。我們在金融服務，特別是銀行業務方面做得很好。

Health care, the other industry I identified as being strategic and above the -- and on par with banking in terms of the importance of our -- to our future. So large health care customers include Kaiser, Cleveland Clinic, Providence St. Jo. I would say that we have a lot of health care wins around the world, but I'd say our health care wins are concentrated more in North America as compared with banking. New health care wins this quarter: Mayo Clinic, the #1 hospital in the United States; Highmark Health; Syneos Health; and PPD. Again, I can go on and on. But again, we print those out for you, and you can read them at your leisure.

醫療保健是我認為具有戰略意義的另一個行業，並且在我們對我們未來的重要性方面與銀行業相提並論。如此龐大的醫療保健客戶包括 Kaiser、Cleveland Clinic、Providence St. Jo。我會說我們在全球範圍內取得了很多醫療保健勝利，但與銀行業相比，我們的醫療保健勝利更多地集中在北美。本季度新的醫療保健獲勝：美國排名第一的醫院梅奧診所；高標健康； Syneos健康；和 PPD。再說一次，我可以繼續說下去。但是，我們再次為您打印這些內容，您可以在閒暇時閱讀它們。

Let me talk about one other industry before I give my closing remarks, and that's logistics customers. We've become very, very strong with logistics customers. FedEx was a key win from us, takeaway from SAP. UPS. We have UPS, DHL, FedEx, DP World, TTS. I can go on and on. We have most of the big logistics companies around the world. And FedEx, which is -- a lot of our companies aren't through rolling out Oracle Fusion ERP. But Fedex, for example, is now live in 98 countries.

在結束髮言之前，讓我談談另一個行業，那就是物流客戶。我們在物流客戶方面變得非常非常強大。 FedEx 是我們的一個關鍵勝利，也是 SAP 的重要成果。 UPS。我們有 UPS、DHL、FedEx、DP World、TTS。我可以繼續說下去。我們擁有世界各地的大多數大型物流公司。還有聯邦快遞，我們的很多公司都沒有推出 Oracle Fusion ERP。但是，例如，聯邦快遞現在在 98 個國家/地區開展業務。

We're winning in lots of other industries as well, but I wanted to highlight these 3 industries because they are essential to our plan to add major new capabilities to our cloud ERP system.

我們在許多其他行業也取得了成功，但我想強調這三個行業，因為它們對於我們為我們的雲 ERP 系統添加主要新功能的計劃至關重要。

Before I describe these capabilities, I have a confession to make. We are not -- I don't believe it. We are not on our way to building a $20 billion cloud ERP business in 5 years. I think it's going to be a lot bigger than that. Let me explain why.

在我描述這些能力之前，我必須承認。我們不是——我不相信。我們不會在 5 年內建立 200 億美元的雲 ERP 業務。我認為它會比這大得多。讓我解釋一下為什麼。

As more and more companies adopt and run Oracle Cloud ERP, I ask the question: What does a B2B procurement transaction look like? In other words, how does it work when one Oracle Cloud ERP system is talking to another Oracle Cloud ERP system and placing an order? We are working in concert with our banking and logistics partners to originate purchase financing, products shipped, delivery tracking, invoicing and payments right inside the 2 transacting Oracle Cloud ERP procurement system. Oracle Cloud ERP will soon bring an entirely new level of automation to B2B commerce, one that very much resembles the ease of doing business and efficiency of B2C e-commerce.

隨著越來越多的公司採用並運行 Oracle 雲 ERP，我提出一個問題：B2B 採購交易是什麼樣的？換句話說，當一個 Oracle Cloud ERP 系統與另一個 Oracle Cloud ERP 系統通信並下訂單時，它是如何工作的？我們正在與我們的銀行和物流合作夥伴合作，在 2 個交易型 Oracle 雲 ERP 採購系統中發起採購融資、產品發貨、交付跟踪、發票和付款。甲骨文云 ERP 很快將為 B2B 商務帶來全新的自動化水平，這與 B2C 電子商務的輕鬆開展業務和效率非常相似。

This new ERP automation system, all these new capabilities will dramatically simplify our customers' procurement and supply chain processes. And as such, it represents a huge new opportunity for Oracle to grow its cloud ERP ecosystem.

這個新的 ERP 自動化系統，所有這些新功能將極大地簡化我們客戶的採購和供應鏈流程。因此，它代表了甲骨文發展其云 ERP 生態系統的巨大新機遇。

Thank you. Back to Safra.

謝謝你。回到薩夫拉。

Thanks, Larry. I think Ken is going to take questions. So...

謝謝，拉里。我認為肯會回答問題。所以...

Yes. Erica, if you could queue the audience, please?

是的。埃麗卡，如果你可以讓觀眾排隊，好嗎？

(Operator Instructions) Our first question comes from the line of Brad Zelnick with Deutsche Bank.

（操作員說明）我們的第一個問題來自德意志銀行的 Brad Zelnick。

Great,and congrats on a great quarter with accelerating growth. Larry, you shared quite a bit with us, really, really helpful. But I wanted to ask you about OCI because we continue to hear great things from customers. And I think people understand Oracle's cloud is hyper secure, highly automated, and there's real price/performance advantage.

太好了，恭喜你迎來了一個加速增長的好季度。拉里，你和我們分享了很多，真的，真的很有幫助。但我想問你關於 OCI 的問題，因為我們不斷聽到客戶的好消息。我認為人們理解甲骨文的雲是超安全、高度自動化的，並且具有真正的性價比優勢。

But as we think about your product's road map and what it takes for Oracle to capture more than its fair share of the broader public cloud market, how much are you investing in breadth versus depth? Because we just see in this quarter alone, like the partnership with Airtel in India, Orange in West Africa, new regions in Singapore, UAE, France, and I'm probably missing some. But clearly, there's demand. Otherwise, I know Safra wouldn't be making these investments. But when a new competitor posts -- Larry, when your main competitor posts over 200 services up the stack, how far should we expect to see you build up the stack competing on functionality versus continuing to go broad with what you already have?

但是，當我們考慮您的產品路線圖以及甲骨文需要什麼才能在更廣泛的公共雲市場中獲得超出其公平份額的份額時，您在廣度和深度上的投資是多少？因為我們僅在本季度看到，例如與印度的 Airtel、西非的 Orange、新加坡、阿聯酋、法國的新地區的合作，我可能錯過了一些。但顯然，有需求。否則，我知道 Safra 不會進行這些投資。但是當一個新的競爭對手發布——拉里，當你的主要競爭對手發布超過 200 項服務時，我們應該期望看到你在功能上建立堆棧，而不是繼續擴大你已經擁有的東西？

Well again, we have a bunch of things the other guys don't have. We have applications. So -- but I know you don't want to talk about OCI. You want to talk about infrastructure. We think of those as 2 separate businesses. But of course, they're not. I mean, everyone who is running Oracle ERP is building data warehouses on top of their ERP data. They're mashing it up maybe with Salesforce data. They're doing all of these things. They're doing a combination of big application customers. Bank of America, for example, is doing a combination of running our apps and building bespoke apps around those. So this is a huge opportunity for us that our other infrastructure customers -- other infrastructure providers don't have.

再說一次，我們有很多其他人沒有的東西。我們有應用程序。所以——但我知道你不想談論OCI。你想談談基礎設施。我們將其視為 2 個獨立的業務。但當然，他們不是。我的意思是，每個運行 Oracle ERP 的人都在他們的 ERP 數據之上構建數據倉庫。他們可能將其與 Salesforce 數據混合在一起。他們正在做所有這些事情。他們正在做一個大型應用程序客戶的組合。例如，美國銀行正在結合運行我們的應用程序和圍繞這些應用程序構建定制應用程序。所以這對我們來說是一個巨大的機會，我們的其他基礎設施客戶——其他基礎設施提供商沒有。

We've often had the discussion: Do we want to support 10 databases? Or do we want to support 30 databases? And do we want to have every single service that, let's say, an Amazon has? And I think our view is we want to have some really good choices but not every single choice on the menu. We want to have all of the popular databases but not some of the obscure databases, so we are not going to try to feature-match every single thing they do.

我們經常討論：我們要支持 10 個數據庫嗎？還是我們要支持 30 個數據庫？我們是否希望擁有亞馬遜擁有的每一項服務？我認為我們的觀點是我們希望有一些非常好的選擇，但不是菜單上的每一個選擇。我們希望擁有所有流行的數據庫，而不是一些晦澀的數據庫，因此我們不會嘗試與他們所做的每件事都進行特徵匹配。

We will, however, have development environments they don't have at all. So if you're building data warehouses on top of Fusion ERP or on top of Fusion HCM or on top of NetSuite, we have a whole set of tools that makes that easy for you over on the infrastructure side of our business. So we have some -- we do -- we have all the popular stuff around. I mean, obviously, you have Kubernetes and the like. But -- and we have PostgreSQL and the popular databases. We have MySQL, but our version of MySQL is much better than Amazon's version of MySQL. It's much faster, I mean, more than 10x faster because of HeatWave. We have this query optimizer they don't have at all.

然而，我們將擁有他們根本沒有的開發環境。因此，如果您在 Fusion ERP 或 Fusion HCM 或 NetSuite 之上構建數據倉庫，我們有一整套工具可讓您在我們業務的基礎架構方面輕鬆完成。所以我們有一些——我們有——我們有所有流行的東西。我的意思是，很明顯，你有 Kubernetes 之類的。但是——我們有 PostgreSQL 和流行的數據庫。我們有 MySQL，但我們的 MySQL 版本比 Amazon 的 MySQL 版本要好得多。它的速度要快得多，我的意思是，由於 HeatWave，它快了 10 倍以上。我們有這個他們根本沒有的查詢優化器。

So our idea is to look at the most popular products, to have recommended development environments and recommended systems and be able to do things they can't do at all.

所以我們的想法是看最流行的產品，有推薦的開發環境和推薦的系統，能做他們根本做不到的事情。

I think one other -- let me mention one of the fundamental differences in our strategy versus their strategy. They are building a small number of very, very large data centers. Our strategy is to build a large number of smaller, less expensive data centers. We think that improves reliability dramatically. We won't have this giant data center going down. It reduces the blast radius of what happens when things go down. Less goes down. It allows us to go into sovereign nations, in some smaller countries that they can't -- never afford to put a data center in. And we can now put 1 but 2 primary and a backup data center in sovereign countries that care about data sovereignty. We can put a complete cloud. I don't mean just database cloud. I mean, a complete cloud at a customer like NRI in Japan, and we did that. With that, we put in a primary and a backup.

我認為另一個——讓我提一下我們的戰略與他們的戰略的根本區別之一。他們正在建造少量非常非常大的數據中心。我們的戰略是建立大量更小、更便宜的數據中心。我們認為這極大地提高了可靠性。我們不會讓這個巨大的數據中心倒塌。它減少了事情發生時發生的爆炸半徑。少下來。它使我們能夠進入主權國家，在一些他們不能 - 永遠負擔不起放置數據中心的較小國家中。我們現在可以在關心數據的主權國家放置 1 個但 2 個主數據中心和一個備用數據中心主權。我們可以放一個完整的雲。我的意思不僅僅是數據庫雲。我的意思是，像日本 NRI 這樣的客戶提供完整的雲，我們做到了。有了這個，我們放置了一個主要的和一個備份。

So we can -- if people want to run a cloud, if a large financial institution wants to run our cloud inside their firewall, inside their data center, we can do that. And how will that cloud differ from the cloud that we run in the public? It won't differ at all. We can make that small enough. We can it into their data center. Nobody else can do this.

所以我們可以——如果人們想要運行雲，如果大型金融機構想要在他們的防火牆內，在他們的數據中心內運行我們的雲，我們可以做到。該雲與我們在公共環境中運行的云有何不同？它根本不會不同。我們可以把它做得足夠小。我們可以將其放入他們的數據中心。沒有其他人可以做到這一點。

So we think we -- and then let me close with a note that I'm going to paraphrase from a very large telecommunications company who uses our cloud and all the other 3 North American clouds: Google, Amazon and Microsoft. And the note basically said the one thing we've noticed about Oracle, Oracle's Cloud, is that it never ever goes down. We can't say that about any of the other clouds. We think this is a critical differentiator, availability.

所以我們認為我們 - 然後讓我以一個註釋結束，我將引用一家非常大的電信公司的解釋，該公司使用我們的雲和所有其他 3 個北美雲：谷歌、亞馬遜和微軟。筆記基本上說我們注意到甲骨文（甲骨文的雲）的一件事是它永遠不會崩潰。我們不能對任何其他雲這麼說。我們認為這是一個關鍵的差異化因素，即可用性。

Another critical differentiator is security, where we have -- where the only way you can achieve security, I promise you this is true, is through autonomy. If you have human beings deploying and tinkering with your systems, they can make mistakes that expose your data. The only way we've been able to solve that problem is to get human beings out of the equation. No human beings, no human error, no human malice.

另一個關鍵的區別是安全性，我們擁有的地方——你可以實現安全的唯一方法，我向你保證，這是真的，就是通過自治。如果您有人部署和修補您的系統，他們可能會犯錯誤，從而暴露您的數據。我們能夠解決這個問題的唯一方法就是讓人類擺脫困境。沒有人，沒有人的錯誤，沒有人的惡意。

So we think we have a bunch of differentiators, and we'll be able to compete very, very effectively with security, reliability, combination of apps and infrastructure autonomy and a bunch of other things the other guys just will not be able to do.

所以我們認為我們有很多差異化因素，我們將能夠非常、非常有效地與安全性、可靠性、應用程序和基礎設施自治的結合以及其他一些其他人無法做到的事情進行競爭。

All right. That's super helpful. Congrats.

好的。這非常有幫助。恭喜。

I will not ever going to ask you that long again ever.

我再也不會問你那麼久了。

Brad, you're not going to believe this. I've got more to add to that answer. So first of all, you missed a few data centers, not the least of which is Israel, France and another one in Italy. So -- but the real answer is the fact that I'm sure you've seen Gartner's scorecard where we actually passed Google this year and are higher than where Microsoft, who's been in this longer than us, was a year ago. But in addition, that scorecard doesn't even measure the capabilities we have in handling very large databases, which, of course, we do uniquely of all the other hyperscalers. So it's all very interesting, but we have things, in addition to application in the infrastructure world, that they cannot handle. And that has just put us in an incredible position, and that's why customers are coming to us. All right, I will stop right there.

布拉德，你不會相信的。我還有更多要補充的答案。因此，首先，您錯過了一些數據中心，其中最重要的是以色列、法國和意大利的另一個數據中心。所以 - 但真正的答案是，我相信你已經看到了 Gartner 的記分卡，我們今年實際上超過了谷歌，並且比一年前在這方面比我們長的微軟要高。但此外，該記分卡甚至無法衡量我們處理超大型數據庫的能力，當然，我們在所有其他超大規模數據庫中都是獨一無二的。所以這一切都非常有趣，但是除了基礎設施領域的應用程序之外，我們還有一些他們無法處理的事情。這讓我們處於一個令人難以置信的位置，這就是客戶來找我們的原因。好吧，我就停在那裡。

Our next question comes from Raimo Lenschow with Barclays Capital.

我們的下一個問題來自巴克萊資本的 Raimo Lenschow。

Congrats from me as well. I wanted to go back to ERP, and I apologize for that. But I remember when I used to work in the industry, Larry, is that changing an ERP system was like volunteering for a root canal treatment. Kind of you kind of try to avoid it as much as possible. But if I look at the numbers now, NetSuite had the strongest growth I've seen for forever, I think. Fusion ERP is accelerating. So what's going on in the industry in terms of kind of like the pressure or the willingness to do it now? Congrats again.

我也祝賀你。我想回到 ERP，對此我深表歉意。但我記得我以前在這個行業工作的時候，拉里，改變一個 ERP 系統就像自願接受根管治療一樣。你有點盡量避免它。但如果我現在看這些數字，我認為 NetSuite 的增長是我所見過的最強勁的。融合 ERP 正在加速發展。那麼，就壓力或現在做這件事的意願而言，這個行業正在發生什麼？再次恭喜。

Yes. Thank you very much. I think we spend a lot of time in automating or install -- installing the product, making it very easy to configure, having -- I think our -- the consulting infrastructure, the implementers around our products now are much more experienced. The products have gotten much better. Our -- the people have got more experience. The customers themselves have gotten more experience. So the cost of putting one of these things in has dropped precipitously. The time it takes to put it in, obviously related to the cost, has also dropped precipitously. The -- there's just no comparison to the way it used to be the way it is now.

是的。非常感謝。我認為我們花了很多時間來自動化或安裝——安裝產品，使其非常容易配置，擁有——我認為我們的——諮詢基礎設施，現在圍繞我們產品的實施者更有經驗。產品變得更好了。我們——人們得到了更多的經驗。客戶自己獲得了更多的經驗。因此，將其中一件東西放入其中的成本急劇下降。投入使用的時間，顯然與成本有關，也急劇下降。與過去的方式相比，現在的方式無法與之相比。

Well, the way it used to be, a customer bought his own unique computer configuration and added some modifications to the ERP system and installed it over a period of -- I mean, it wasn't unusual back in the day for an SAP implementation to take 5 to 7 years. Now I know it sounds crazy, but some of them -- and cost billions of dollars.

好吧，就像過去一樣，客戶購買了自己獨特的計算機配置，並對 ERP 系統進行了一些修改，並在一段時間內安裝了它——我的意思是，在過去，SAP 實施並不少見需要5到7年。現在我知道這聽起來很瘋狂，但其中一些——並且花費了數十億美元。

Now for a medium-sized company, 6 months is not unreasonable to get you live on -- maybe not your entire business, but financials and procurement and a big chunk of your business, we can get live very, very quickly at a very, very low cost. So it's just a totally different world.

現在對於一家中型公司來說，6 個月讓你活下去並不是不合理的——也許不是你的整個業務，而是財務和採購以及你的大部分業務，我們可以非常非常快地以非常、非常、成本非常低。所以這只是一個完全不同的世界。

And then the other thing I'm going to mention one more time. Customers are not encouraged to go ahead and build their own extensions. If you need an extension, tell us what you need, and maybe we can schedule it in the next quarter or 2 in the upcoming releases. That's a fundamentally different model. It's so much less expensive to have us do it for nothing than to try to do it yourself.

然後我要再提一次的另一件事。不鼓勵客戶繼續構建自己的擴展。如果您需要擴展，請告訴我們您需要什麼，也許我們可以在下一季度或即將發布的版本中安排它。這是一個根本不同的模型。讓我們白做這件事比嘗試自己做要便宜得多。

Our next question comes from Keith Weiss with Morgan Stanley.

我們的下一個問題來自摩根士丹利的 Keith Weiss。

Really impressive quarter. I think Brad had a really good point earlier that investors are more and more looking at sort of your CapEx intentions and looking at data center count, frankly, as a leading indicator of growth for Oracle. So I was hoping you could update us on that.

真正令人印象深刻的季度。我認為布拉德早些時候有一個非常好的觀點，即投資者越來越多地關注您的資本支出意圖，並坦率地說，將數據中心數量視為甲骨文增長的領先指標。所以我希望你能更新我們。

And maybe digging into the data center side, capacity expansion isn't just in data center expansion. You could expand within data centers as well. Can you help us think about how we should think about overall capacity to deliver through both data center expansion and expanding those existing data centers to really capture all of these investments that you're making?

而且可能深入到數據中心方面，擴容不僅僅是數據中心的擴容。您也可以在數據中心內進行擴展。您能否幫助我們考慮一下我們應該如何考慮通過數據中心擴展和現有數據中心擴展來真正獲得您正在進行的所有這些投資的整體能力？

I guess I'll take that. I'll get started with that. Well, first of all, the public database and data centers are the ones that we announced that are up and running. Of course, we have many in the offing. We also have, as Larry talked about, private regions for certain customers.

我想我會接受的。我會開始的。嗯，首先，公共數據庫和數據中心是我們宣布啟動並運行的。當然，我們還有很多即將到來的。正如拉里所說，我們還為某些客戶提供私人區域。

But in addition, we've made very significant investment in government, especially United States government-focused data centers. And I'm sure you've seen that we've been invited to submit for the JWCC. We also have data centers at different levels of security for different government requirements in other countries. And those, we don't generally announce, so you don't see those.

但除此之外，我們還對政府進行了大量投資，尤其是美國政府關注的數據中心。我相信你已經看到我們被邀請提交JWCC。我們還擁有不同安全級別的數據中心，以滿足其他國家/地區的不同政府要求。而那些，我們通常不會宣布，所以你看不到這些。

What you do see is the fact that we have invested ahead of revenue and we invest when we see revenue potential. We have been rolling out on track, so we feel very good about it. We have just continued to make sure we have capacity for customers, and some customers start in one data center. And when we open in their countries, they move to those. And that's working out for us. We have a lot of demand worldwide, and we're -- you're going to see us make these investments, as I've guided, for the whole year.

您所看到的是，我們在收入之前進行了投資，並且在看到收入潛力時進行投資。我們一直在軌道上推出，所以我們對此感覺非常好。我們剛剛繼續確保我們為客戶提供容量，一些客戶從一個數據中心開始。當我們在他們的國家開業時，他們會轉向那些國家。這對我們有用。我們在全球範圍內有很多需求，而且我們 - 你會看到我們在全年進行這些投資，正如我所指導的那樣。

Okay, Super helpful.

好的，超級有幫助。

Our next question comes from Mark Moerdler with Sanford Bernstein.

我們的下一個問題來自 Mark Moerdler 和 Sanford Bernstein。

I'm going to follow up on discussion on OCI Gen2. Oracle's dedicated regions seem to be reasonably unique offerings and a different spin on the hybrid cloud which the largest hyperscale providers are not offering. Can you explain how you're able to deliver this successfully and with good margins? And what -- why others cannot? And can you give us any sense of how large do you see that opportunity?

我將跟進有關 OCI Gen2 的討論。甲骨文的專用區域似乎是相當獨特的產品，並且是最大的超大規模提供商沒有提供的混合雲的不同旋轉。您能解釋一下您如何能夠成功地實現這一目標並獲得豐厚的利潤嗎？還有什麼——為什麼其他人不能？你能告訴我們你認為這個機會有多大嗎？

Yes. I'll take a crack at that one. Well, everyone says we were late to the party, so we saw what everyone else built. In fact, we built 2 versions of our cloud, right? We built version 1, which we weren't very happy with. And then we built Gen2 -- our Gen2 cloud.

是的。我會破解那個。好吧，每個人都說我們參加聚會遲到了，所以我們看到了其他人建造的東西。事實上，我們構建了 2 個版本的雲，對嗎？我們構建了第 1 版，對此我們不太滿意。然後我們構建了 Gen2——我們的 Gen2 雲。

And one of the things that we decided -- as we had a chance to rearchitect it, we were sensitive to -- we needed special high -- super high security zones for government. We need to build a lot of data centers. And we -- and the magic to building a lot of data centers is twofold. One is compressing the software to a smallish number of servers, but that's really not it. It's really the -- being able to operate all -- a lot of smaller data centers without people or with very few people.

我們決定的一件事——因為我們有機會重新架構它，我們對——我們需要特別高——超高的政府安全區很敏感。我們需要建立很多數據中心。而我們——建造大量數據中心的魔力是雙重的。一種是將軟件壓縮到少量服務器上，但事實並非如此。這真的是——能夠運行所有的——許多沒有人或只有很少人的小型數據中心。

Think about what Elon Musk did with his satellite system. Why was he able to build a low Earth orbiting satellite system and nobody else? A lot of other people have tried, but no one else could because he figured out -- he built a software to manage thousands of satellites. No one else could do it. NASA couldn't do it. Other people couldn't do it. That's why they kind of failed in the past.

想想埃隆馬斯克用他的衛星系統做了什麼。為什麼他能夠建造一個低地球軌道衛星系統而沒有其他人？很多其他人都嘗試過，但沒有人能做到，因為他想通了——他開發了一個軟件來管理數千顆衛星。沒有人能做到。 NASA 做不到。其他人做不到。這就是他們過去失敗的原因。

We -- the -- our automation software for rolling out and managing a large number of data centers is a very different software that you would build for managing a small number of super large data center where you had a lot of people. So we've relied much more heavily on automation to do this. And Safra doesn't talk about it because it wasn't easy. It took us a while. And we were worried -- and we've made a bunch of commitments. And the only way we can meet all those commitments was to have fully automated, lights-out data center, cloud data centers. And we -- the team did a fantastic job prioritizing that automation, and that automation software is what allows us to have a large number of data centers rather than a small number of large data centers. It's just a different -- it's a different suite of software to do it, to manage it.

我們——我們的用於推出和管理大量數據中心的自動化軟件是一個非常不同的軟件，你將構建它來管理你有很多人的少數超大型數據中心。所以我們更加依賴自動化來做到這一點。 Safra 沒有談論它，因為這並不容易。我們花了一段時間。我們很擔心——我們已經做出了很多承諾。而我們能夠滿足所有這些承諾的唯一方法就是擁有全自動、無人值守的數據中心、雲數據中心。我們 - 團隊在優先考慮自動化方面做得非常出色，而自動化軟件使我們能夠擁有大量數據中心而不是少數大型數據中心。這只是不同的——它是一套不同的軟件來完成它，管理它。

Larry, I wanted to comment also on the private data centers that are truly -- a full cloud but at customers. So that's just...

拉里，我還想評論一下真正的私有數據中心——一個完整的雲，但面向客戶。所以這只是...

Yes. A lot of people talk about it. They talk about it. I think it's hilarious. I mean, I hear people talk about hybrid cloud. So a hybrid cloud means they're someone's public cloud, and then whatever you have in your data center is the hybrid. This is ridiculous. That's not a cloud. People say, "Well, that's the most common cloud there is, whatever you got, plus some link to a public cloud." That is not a hybrid cloud.

是的。很多人都在談論它。他們談論它。我認為這很有趣。我的意思是，我聽到人們談論混合雲。所以混合雲意味著他們是某人的公共雲，然後你在數據中心擁有的任何東西都是混合雲。這是荒唐的。那不是雲。人們說，“嗯，這是最常見的雲，不管你有什麼，加上一些到公共雲的鏈接。”那不是混合雲。

We offer the identical hardware, the identical automation software. We'll put a region. It will -- it runs all of our apps, runs all of our services, 100% of them. And we'll put it in your data center. We can do that now because we can run that -- we can run -- we have the automation software to run that on your floor behind your firewall. We can build that. So it's true.

我們提供相同的硬件、相同的自動化軟件。我們將放置一個區域。它將——它運行我們所有的應用程序，運行我們所有的服務，100%。我們會將其放入您的數據中心。我們現在可以這樣做，因為我們可以運行它——我們可以運行——我們有自動化軟件可以在防火牆後面的地板上運行它。我們可以建造它。所以這是真的。

So our notion of a hybrid cloud is basically the same thing, but it's located on your data center floor behind your firewall with high-speed network interconnects where you're comfortable and feel safe, safer than if you were in the public cloud. That's the only hybrid-ey thing about it. Otherwise, it's exactly the same thing. You can move a workload from the public -- from a public cloud into your private region and then back out of your product region back in the public cloud. They are identical in every way, except for the security protection and firewalls in your private data center. That's a real hybrid cloud. The other guys don't have it.

因此，我們對混合雲的概念基本上是相同的，但它位於防火牆後面的數據中心樓層，具有高速網絡互連，讓您感到舒適和安全，比在公共雲中更安全。這是它唯一的混合動力。否則，它是完全一樣的事情。您可以將工作負載從公共 - 從公共雲移動到您的私有區域，然後從您的產品區域返回到公共雲中。除了您的私有數據中心的安全保護和防火牆外，它們在各方面都是相同的。那是一個真正的混合雲。其他人沒有。

That makes a lot of sense. I really do appreciate it, and congratulation on the strong quarter.

這很有意義。我真的很感激，並祝賀強勁的季度。

Our final question comes from Phil Winslow with Credit Suisse.

我們的最後一個問題來自瑞士信貸的菲爾溫斯洛。

Congrats on a great quarter and outlook. In a quarter where a lot of numbers jumped out, I mean, the one that jumped out to me the most was the license growth year-over-year. I had to go back 9 years in my model to find a quarter that was actually higher than this. And obviously when I think about license for Oracle, I was assuming it's being driven by the database business. And then when you think about that...

祝賀一個偉大的季度和前景。在一個有很多數字跳出的季度，我的意思是，對我來說跳出最多的是許可證的同比增長。我必須在我的模型中回到 9 年前才能找到實際上比這更高的四分之一。顯然，當我考慮 Oracle 的許可時，我假設它是由數據庫業務驅動的。然後當你想到那個...

By the way, I'm really glad you said that. That's what it is. I mean, think about it. I mean, Marc Benioff over at Salesforce.com, they run their business -- their cloud business entirely on Oracle.

順便說一句，我真的很高興你這麼說。就是這樣。我想說的是，考慮一下。我的意思是，Marc Benioff 在 Salesforce.com，他們經營他們的業務——他們的雲業務完全依賴於甲骨文。

Now we -- people say, well, that's not cloud revenue. You just license that revenue. Well, it's the Oracle database running all of Salesforce's cloud, and we don't count -- and you're right. We don't count that as cloud revenue. We count that as license revenue. But is that a modern cloud application? I think so. But again, the license stuff is being driven by the use of our database in some very large clouds.

現在我們——人們說，嗯，這不是雲收入。您只需許可該收入。嗯，它是運行 Salesforce 的所有云的 Oracle 數據庫，我們不算數 - 你是對的。我們不將其視為雲收入。我們將其視為許可收入。但那是現代云應用程序嗎？我想是這樣。但同樣，許可證的內容是通過在一些非常大的雲中使用我們的數據庫來驅動的。

That's great. Well, that partially answers one of my questions. But when you think about that license and your example of their -- for example, like Salesforce, together with just the cloud services and the acceleration you see there, I mean, just that overall business seem to accelerate during Q2 here and even versus Q1. And when I think about some of the other smaller competitors in the space, they've seen an acceleration as well.

那太棒了。好吧，這部分回答了我的一個問題。但是，當您考慮該許可證和您的示例時——例如，像 Salesforce，以及您在其中看到的雲服務和加速，我的意思是，在第二季度，甚至與第一季度相比，整體業務似乎都在加速.當我想到該領域的其他一些較小的競爭對手時，他們也看到了加速。

So I guess, Larry, my question is there seems to be something going on in the data world, the data infrastructure stack. And obviously, when Oracle moves at these -- at your scale at these percentages, there definitely seems to be something going on. So what is that? And how do you think about the sustainability of those drivers?

所以我想，拉里，我的問題是數據世界中似乎正在發生一些事情，數據基礎設施堆棧。顯然，當甲骨文以這些百分比移動時——在你的規模上，肯定會發生一些事情。那是什麼？您如何看待這些驅動因素的可持續性？

Larry, it's either you or me. We're going to talk about data. I mean, listen, this is not new news in that what is going on is getting insights from data, being able to capture large amounts of data and analyzing it. And of course, that's coming and so much of it is in Oracle. We're the ones who can handle high performance, high-reliability requirements. And the Oracle database continues to grow.

拉里，要么是你，要么是我。我們將討論數據。我的意思是，聽著，這並不是什麼新消息，因為正在發生的事情是從數據中獲得洞察力，能夠捕獲大量數據並對其進行分析。當然，這即將到來，其中大部分都在甲骨文中。我們是能夠處理高性能、高可靠性要求的人。 Oracle 數據庫還在繼續增長。

But in addition, we have the other technologies that are also doing very well. Java continues to be incredibly strong, and it's leading application development environment. So -- but remember, when people buy the Oracle database licenses, they can bring those to our cloud, and that's a very economical way to operate.

但除此之外，我們還有其他技術也做得很好。 Java 仍然非常強大，它是領先的應用程序開發環境。所以 - 但請記住，當人們購買 Oracle 數據庫許可證時，他們可以將這些許可證帶到我們的雲中，這是一種非常經濟的運營方式。

And really, what's going on is huge amounts of data growing exponentially. And when it's important data, especially data you want to use for analysis, for data warehousing, for transactions, you're going to pick Oracle 9 times out of 10. And so this is great for us. And of course, as more businesses just digitize, this just draws more of our technology.

實際上，正在發生的是大量數據呈指數級增長。當它是重要數據時，尤其是您想要用於分析、數據倉庫、交易的數據時，您將在 10 次中選擇 Oracle 9 次。所以這對我們來說非常棒。當然，隨著越來越多的企業數字化，這只會吸引我們更多的技術。

Yes. And I would say that as SAP moves their applications to S/4HANA in the cloud, and they do what I call hosting and they call cloud, the vast majority of those SAP databases do not run HANA. Way over -- 95% of them still run Oracle. It's a big business for us, even when it migrates to the cloud. I mean, Amazon has customers who have taken their Oracle database licenses, and they're running those Oracle database licenses in the cloud. So license does not mean on-premise, and license does not mean the cloud. It can -- it's a bit of a -- it's a mixed bag, right? Some of that license revenue and most of the new license revenue is on its way to the cloud.

是的。我想說的是，隨著 SAP 將他們的應用程序遷移到雲中的 S/4HANA，並且他們執行我所說的託管和雲，這些 SAP 數據庫中的絕大多數都沒有運行 HANA。遠遠超過——其中 95% 仍在運行 Oracle。這對我們來說是一項大生意，即使它遷移到雲端也是如此。我的意思是，亞馬遜的客戶已經獲得了他們的 Oracle 數據庫許可證，並且他們正在雲中運行這些 Oracle 數據庫許可證。所以許可證並不意味著內部部署，許可證並不意味著雲。它可以 - 它有點 - 這是一個混合包，對吧？其中一些許可收入和大部分新許可收入正在流向雲端。

Okay. Great. Thank you, Larry.

好的。偉大的。謝謝你，拉里。

A telephonic replay of this conference call will be available for 24 hours on the Investor Relations website.

本次電話會議的電話重播將在投資者關係網站上 24 小時提供。

Thank you for joining us today. And with that, I'll turn the call back to Erica for closing.

感謝您今天加入我們。有了這個，我會把電話轉回給 Erica 來結束。

Thank you for joining today's Oracle's Second Quarter 2022 Earnings Conference Call. We appreciate your participation. You may now disconnect.

感謝您參加今天的甲骨文 2022 年第二季度收益電話會議。我們感謝您的參與。您現在可以斷開連接。