甲骨文 (ORCL) 2021 Q3 法說會逐字稿

Welcome to Oracle's Third Quarter 2021 Earnings Conference Call.

歡迎參加 Oracle 2021 年第三季度收益電話會議。

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.

謝謝你，艾麗卡。

Good afternoon, everyone, and welcome to Oracle's Third Quarter Fiscal Year 2021 Earnings Conference Call.

大家下午好，歡迎參加 Oracle 2021 財年第三季度收益電話會議。

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格的副本，其中包括 GAAP 與非 GAAP 對賬和其他補充財務信息。

Additionally, a list of customers mentioned on this customer conference call as well as many others which have purchased Oracle Cloud services or went live on Oracle Cloud recently will be also available from the Investor Relations website.

此外，投資者關係網站上還提供了本次客戶電話會議中提到的客戶名單，以及許多其他已購買 Oracle 雲服務或最近在 Oracle 雲上線的客戶。

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

今天參加電話會議的有董事長兼首席技術官拉里·埃里森 (Larry Ellison)；兼首席執行官 Safra Catz。

As a reminder, today's discussion will include forward-looking statements, including predictions, expectations, estimates or other information that might be considered forward-looking.

提醒一下，今天的討論將包括前瞻性陳述，包括預測、預期、估計或其他可能被視為前瞻性的信息。

Throughout today's discussion, we will present some important factors relating to our business which may potentially affect these forward-looking statements.

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。

Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from statements being made today.

前瞻性陳述受風險和不確定因素的影響，這些風險和不確定性可能導致實際結果與今天所做的陳述存在重大差異。

As a result, we caution you against placing undue reliance on these forward-looking statements.

因此，我們提醒您不要過分依賴這些前瞻性陳述。

And we encourage you to review our most recent reports, including our 10-K and 10-Q and any applicable amendments for a complete discussion of these factors and other risks that may affect our future results or the market price of our stock.

我們鼓勵您查看我們最近的報告，包括我們的 10-K 和 10-Q 以及任何適用的修正案，以全面討論這些因素和可能影響我們未來業績或我們股票市場價格的其他風險。

And finally, we are not obligating ourselves to revise our results or these forward-looking statements in light of new information or future events.

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。

We'll begin with a few prepared remarks, and then I'll turn the call over to Safra.

我們將從一些準備好的評論開始，然後我會將電話轉給 Safra。

Safra?

薩夫拉？

Thanks, Ken, and good afternoon, everyone.

謝謝，肯，大家下午好。

We are again reporting earnings 10 days after the end of the fiscal quarter, faster than any other company in the S&P 500.

我們在財政季度結束後 10 天再次報告收益，比標準普爾 500 指數中的任何其他公司都要快。

Fusion Cloud ERP enables us to understand our business performance sooner and with greater insight, which is an advantage our customers are rapidly beginning to appreciate.

Fusion Cloud ERP 使我們能夠更快、更深入地了解我們的業務績效，這是我們的客戶很快開始欣賞的優勢。

As you can see, we had a great quarter and executed well against our growth plan.

正如您所看到的，我們有一個很棒的季度並且很好地執行了我們的增長計劃。

Revenue was in line with our USD guidance, while EPS beat the midpoint of guidance by $0.05.

收入符合我們的美元指引，而每股收益超出指引的中點 0.05 美元。

Our total cloud services and license support revenue for the quarter was $7.3 billion, up 5% in U.S. dollars, 2% in constant currency, driven by Fusion, Autonomous Database and our Gen2 OCI cloud.

本季度我們的雲服務和許可支持總收入為 73 億美元，按美元計算增長 5%，按固定匯率計算增長 2%，這主要得益於 Fusion、Autonomous Database 和我們的 Gen2 OCI 雲。

Recurring revenue as a percentage of total revenue now represents 72% of total company revenue, and we anticipate this trend to continue as cloud services grow.

經常性收入佔總收入的百分比現在占公司總收入的 72%，我們預計隨著雲服務的增長，這一趨勢將持續下去。

Applications subscription revenues were $3 billion, up 5% in U.S. dollars, 3% in constant currency.

應用程序訂閱收入為 30 億美元，按美元計算增長 5%，按固定匯率計算增長 3%。

Our strategic back office cloud applications now have annualized revenue of $4 billion and grew 24% this quarter, including Fusion ERP, up 27%; NetSuite ERP, up 22%; and Fusion HCM, up 21%.

我們的戰略後台雲應用程序現在年化收入為 40 億美元，本季度增長 24%，其中 Fusion ERP 增長 27%； NetSuite ERP，增長 22%； Fusion HCM 增長 21%。

Infrastructure subscription revenues were $4.3 billion, up 4% in U.S. dollars, up 2% in constant currency.

基礎設施訂閱收入為 43 億美元，按美元計算增長 4%，按固定匯率計算增長 2%。

Infrastructure cloud services now have an annualized revenue of more than $2 billion, including OCI consumption revenue, which was up 123%.

基礎設施雲服務現在的年化收入超過 20 億美元，其中 OCI 消費收入增長了 123%。

Autonomous Database was up 55%.

自治數據庫增長了 55%。

Cloud customer consumption revenue was up over 200% but on small numbers.

雲客戶消費收入增長超過 200%，但增長幅度較小。

Database subscription revenues, including database support and database cloud services, were up 6% in U.S. dollars and up 3% in constant currency.

數據庫訂閱收入，包括數據庫支持和數據庫雲服務，按美元計算增長 6%，按固定匯率計算增長 3%。

License revenues were $1.3 billion, up 4% in U.S. dollars and unchanged in constant currency.

許可收入為 13 億美元，按美元計算增長 4%，按固定匯率計算保持不變。

So all in, total revenues for the quarter were $10.1 billion, up 3% in U.S. dollars, up slightly in constant currency.

因此，本季度總收入為 101 億美元，按美元計算增長 3%，按固定匯率計算略有增長。

Operating expenses were down this quarter, and non-GAAP operating income was $4.8 billion, up 6% from last year.

本季度運營支出有所下降，非 GAAP 運營收入為 48 億美元，比去年增長 6%。

Q3 operating margin was 47% in USD, up 300 basis points from 44% last year and our best Q3 result in more than 10 years.

第三季度營業利潤率為 47%（以美元計算），比去年的 44% 高出 300 個基點，是我們 10 多年來最好的第三季度業績。

The non-GAAP tax rate for the quarter was 16.7%, slightly below our base tax rate as a result of some discrete items.

由於一些離散項目，本季度的非美國通用會計準則稅率為 16.7%，略低於我們的基本稅率。

EPS was $1.16 in U.S. dollars, up 20% in U.S. dollars, up 16% in constant currency.

每股收益為 1.16 美元，按美元計算增長 20%，按固定匯率計算增長 16%。

GAAP EPS was $1.68 in USD, up 113% and up 104% in constant currency.

GAAP 每股收益按美元計算為 1.68 美元，增長 113%，按固定匯率計算增長 104%。

In the quarter, the GAAP income statement was impacted by a onetime net tax benefit of approximately $2.3 billion related to the transfer of certain assets between subsidiaries.

本季度，GAAP 損益表受到與子公司之間某些資產轉移相關的一次性淨稅收利益的影響，約為 23 億美元。

To facilitate comparison across periods, we have excluded the effect of this event from our non-GAAP calculation.

為了便於跨時期比較，我們已將此事件的影響排除在我們的非 GAAP 計算之外。

Next, operating cash flow over the last 4 quarters was $14.7 billion, with capital expenditures of $1.9 billion and free cash flow in excess of $12.8 billion over the same period.

接下來，過去 4 個季度的運營現金流為 147 億美元，同期資本支出為 19 億美元，自由現金流超過 128 億美元。

For the quarter, operating cash flow was $3.7 billion, up 23%.

本季度，經營現金流為 37 億美元，增長 23%。

And free cash flow was $3.3 billion, up 26% from last year.

自由現金流為 33 億美元，比去年增長 26%。

We now have nearly $36 billion in cash and marketable securities.

我們現在擁有近 360 億美元的現金和有價證券。

The short-term deferred revenue balance was down in constant currency at $8.1 billion, while the short-term gross deferred revenue was up 4% in constant currency.

按固定匯率計算，短期遞延收入餘額下降至 81 億美元，而按固定匯率計算，短期遞延總收入增長 4%。

As you know, the difference between the 2 growth rates is due entirely to timing differences in customer payments.

如您所知，這兩個增長率之間的差異完全是由於客戶付款的時間差異造成的。

The remaining performance obligation, or RPO, balance is $35.3 billion, up 2% in constant currency versus last year.

剩餘履約義務或 RPO 餘額為 353 億美元，按固定匯率計算比去年增長 2%。

Approximately 61% is expected to be recognized as revenue over the next 12 months, up from 60% a year ago.

預計未來 12 個月約有 61% 將確認為收入，高於一年前的 60%。

As we've said before, we're committed to returning value to our shareholders through technical innovation, strategic acquisitions, stock repurchases, prudent use of debt and a dividend.

正如我們之前所說，我們致力於通過技術創新、戰略收購、股票回購、謹慎使用債務和派息來為股東回報價值。

And this quarter, we repurchased more than 64 million shares for a total of $4 billion.

本季度，我們以總計 40 億美元回購了超過 6400 萬股股票。

In addition, the Board of Directors increased the quarterly dividend 33% from $0.24 to $0.32 per share.

此外，董事會將季度股息從每股 0.24 美元增加 33% 至 0.32 美元。

The Board of Directors also authorized an additional $20 billion for the repurchase of Oracle shares.

董事會還授權追加 200 億美元用於回購甲骨文股票。

As I mentioned last quarter, we experienced capacity constraints for OCI cloud services as customer workloads expanded dramatically.

正如我在上個季度提到的那樣，隨著客戶工作負載的急劇增加，我們遇到了 OCI 雲服務的容量限制。

In addition, we continue to land many new customers including ISVs, and we have some very large users coming online shortly that will require significant amounts of capacity.

此外，我們繼續吸引包括 ISV 在內的許多新客戶，並且我們有一些非常大的用戶很快就會上線，這將需要大量的容量。

As a result, we're investing aggressively this quarter, this Q4, both OpEx and CapEx to prepare for this increase in cloud consumption and associated revenue in FY '22.

因此，我們在本季度、第四季度積極投資，包括運營支出和資本支出，為 22 財年雲消費和相關收入的增長做好準備。

As such, we are going to target a 49% operating margin for Q4.

因此，我們計劃將第四季度的營業利潤率定為 49%。

This will enable us to continue to deliver double-digit earnings growth, once again, in FY '22 for the fifth year in a row.

這將使我們能夠在 22 財年連續第五年繼續實現兩位數的收益增長。

Now to the guidance.

現在到指導。

Again, my guidance today is on a non-GAAP basis and assumes current exchange rates remain the same as they are now, which is a 4% positive effect on total revenue and $0.07 positive effect on EPS in Q4.

同樣，我今天的指導是基於非公認會計原則，並假設當前匯率與現在保持不變，這對第四季度的總收入產生 4% 的積極影響，對每股收益產生 0.07 美元的積極影響。

It will look -- it may look like a positive effect of $0.08 to EPS due to rounding, but it's $0.07.

它看起來——由於四捨五入，它可能看起來對 EPS 有 0.08 美元的積極影響，但它是 0.07 美元。

However, actual currency impact could be different, so here it goes.

但是，實際的貨幣影響可能會有所不同，所以就這樣吧。

Total revenues are expected to grow from 5% to 7% in U.S. dollars and are expected to grow 1% to 3% in constant currency.

按美元計算，總收入預計將從 5% 增長到 7%，按固定匯率計算，預計增長 1% 到 3%。

Cloud service and license support will grow faster than in Q3 as well as strategic back office cloud applications.

雲服務和許可支持以及戰略後台雲應用程序的增長速度將快於第三季度。

As a result of the increased investment in the quarter, non-GAAP EPS in USD is expected to grow 7% to 11% and be between $1.28 and $1.32 in USD.

由於本季度投資增加，以美元計算的非 GAAP 每股收益預計將增長 7% 至 11%，以美元計算在 1.28 美元至 1.32 美元之間。

Non-GAAP EPS in constant currency is expected to be flat to up 4% and be between $1.20 and $1.24 in constant currency.

按固定匯率計算的非 GAAP 每股收益預計持平至增長 4%，按固定匯率計算在 1.20 美元至 1.24 美元之間。

CapEx for Q4 is expected to be $1 billion.

第四季度的資本支出預計為 10 億美元。

My EPS guidance for Q4 assumes a base rate of 19%.

我對第四季度的每股收益指導假設基本利率為 19%。

However, onetime tax events could cause actual tax rates for any given quarter to vary.

但是，一次性稅收事件可能會導致任何給定季度的實際稅率發生變化。

But I expect that in the normalizing for these onetime tax events, our tax rate will average around 19% or so.

但我預計，在這些一次性稅收事件正常化的過程中，我們的稅率將平均在 19% 左右。

And 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。

Three months ago, Bob Evans posted an article on the Cloud Wars website in which he quotes SAP's CFO Luka Mucic making the following statement at an investors conference, and I quote, "I have checked and we have not lost a single ERP customer to Oracle." In other words, after personally checking, SAP's Chief Financial Officer could not find a single example of an SAP ERP customer moving to Oracle Fusion ERP.

三個月前，Bob Evans 在 Cloud Wars 網站上發表了一篇文章，其中他引用了 SAP 的首席財務官 Luka Mucic 在投資者會議上發表的以下聲明，我引用，“我已經檢查過，我們沒有一個 ERP 客戶輸給 Oracle ”也就是說，SAP的首席財務官親自查了一遍，找不到一個SAP ERP客戶轉向Oracle Fusion ERP的例子。

Not one.

不是一個。

Perhaps he should have checked a little bit more carefully.

也許他應該更仔細地檢查一下。

In Q3 alone, we signed contracts totaling hundreds of millions of dollars to migrate several very large SAP ERP customers to Oracle Fusion ERP.

僅在第 3 季度，我們就簽署了總計數億美元的合同，將幾個非常大的 SAP ERP 客戶遷移到 Oracle Fusion ERP。

But this was not just a recent Q3 event.

但這不僅僅是最近的第三季度事件。

This has been going on for a couple of years.

這種情況已經持續了幾年。

I'm now going to go and present a list of over 100 companies and government agencies that have already moved from SAP ERP to Fusion ERP or are currently in the process of doing so.

我現在要列出 100 多家公司和政府機構的名單，這些公司和政府機構已經從 SAP ERP 遷移到 Fusion ERP，或者目前正在這樣做。

I've divided the list of SAP customers who are moving to Oracle Fusion ERP into 2 distinct groups.

我將遷移到 Oracle Fusion ERP 的 SAP 客戶列表分為兩個不同的組。

I want to be very precise here.

我想在這裡非常精確。

The first group is moving their entire company to the Fusion ERP suite, including core financials.

第一組正在將他們的整個公司遷移到 Fusion ERP 套件，包括核心財務。

That's Oracle wall to wall.

那是甲骨文牆到牆。

The second group has started deploying Fusion ERP applications but has not yet put in the entire suite and may still be running SAP financials in some places.

第二組已開始部署 Fusion ERP 應用程序，但尚未部署整個套件，可能仍在某些地方運行 SAP 財務。

They've begun the migration, but they're not committed to doing the entire suite as yet or they're not in the process of doing the entire suite as yet.

他們已經開始遷移，但他們還沒有承諾完成整個套件，或者他們還沒有在完成整個套件的過程中。

Okay.

好的。

So let me go to start the list.

所以讓我開始列出清單。

TTX Company, an industrial manufacturer of railcars in North America, replaced out all of SAP ERP with Oracle Fusion, including financial accounting, procurement -- let's see, enterprise performance management, supply chain, HCM, everything, with the Fusion cloud, complete replacement of SAP ERP to Fusion ERP.

TTX Company，北美的一家軌道車工業製造商，用 Oracle Fusion 替換了所有 SAP ERP，包括財務會計、採購——讓我們看看，企業績效管理、供應鏈、HCM，所有的一切，用 Fusion 雲，完全替換從 SAP ERP 到 Fusion ERP。

G4S plc, a security services firm and that's the world's largest security company by revenue, complete replacement of SAP R/3 with Oracle ERP and Oracle HCM.

G4S plc 是一家安全服務公司，按收入計算是全球最大的安全公司，它用 Oracle ERP 和 Oracle HCM 完全替代了 SAP R/3。

First Solar, North America's only remaining maker of solar panels in the United States, replaced SAP's S/4HANA, Ariba, Concur, third-party apps, all of SAP ERP with Oracle Fusion ERP, Oracle Fusion EPM, Oracle Fusion HCM and supply chain management.

First Solar，北美僅存的美國太陽能電池板製造商，用 Oracle Fusion ERP、Oracle Fusion EPM、Oracle Fusion HCM 和供應鏈取代了 SAP 的 S/4HANA、Ariba、Concur、第三方應用程序、所有 SAP ERP管理。

Transit Wireless, a North American telco, completely replaced out SAP R/3 with Oracle Fusion ERP and Oracle Fusion HCM.

北美電信公司 Transit Wireless 用 Oracle Fusion ERP 和 Oracle Fusion HCM 完全取代了 SAP R/3。

West Sussex County Council, complete SAP replacement with Oracle ERP, Oracle HCM and Oracle EPM.

西薩塞克斯郡議會，用 Oracle ERP、Oracle HCM 和 Oracle EPM 完成 SAP 替換。

ERP, [ML], HCM -- EPM is Oracle Enterprise Performance Management.

ERP、[ML]、HCM——EPM 是 Oracle 企業績效管理。

Complete wall to wall Oracle at West Sussex County Council.

在西薩塞克斯郡議會完成牆到牆的甲骨文。

No more SAP.

不再有 SAP。

CEMEX, a concrete company in Mexico, completely replaced SAP with Oracle ERP and supply chain.

墨西哥的一家混凝土公司 CEMEX 用 Oracle ERP 和供應鏈完全取代了 SAP。

Niagara Bottling, a North American beverage manufacturer private label bottled water, replaced SAP with Oracle ERP, supply chain, transportation management, et cetera.

北美飲料製造商自有品牌瓶裝水 Niagara Bottling 用 Oracle ERP、供應鏈、運輸管理等取代了 SAP。

New Zealand Inland Revenue, complete SAP R/3 replacement with Oracle ERP and Oracle HCM.

新西蘭稅務局，用 Oracle ERP 和 Oracle HCM 完成 SAP R/3 的替換。

University of the Andes in Latin America, the #1 university in Colombia, complete replacement of -- had SAP for 10 years, replaced it with Oracle ERP, HCM, EPM, supply chain, sales, everything.

拉丁美洲的安第斯大學，哥倫比亞排名第一的大學，完全取代了 SAP 10 年，用 Oracle ERP、HCM、EPM、供應鏈、銷售，一切取代它。

Bip&Drive, a travel and transportation company in EMEA, electronic toll payment provider for the roadways in Spain, again, replaced -- was offered a free S/4HANA upgrade, instead chose Oracle Fusion Cloud.

Bip&Drive 是 EMEA 的一家旅遊和運輸公司，也是西班牙公路的電子通行費支付提供商，再次被取代——獲得了免費的 S/4HANA 升級，而是選擇了 Oracle Fusion Cloud。

GE Grid Software, an industrial manufacturer, software for utilities and power transmissions, complete SAP replacement with Oracle ERP Fusion Cloud.

GE Grid Software 是一家工業製造商，提供公用事業和電力傳輸軟件，使用 Oracle ERP Fusion Cloud 完全替代 SAP。

Postcon, let's see, the second largest mail carrier in Germany, SAP complete replacement of RP, replaced them with Oracle Fusion ERP and the cloud plus supply chain management.

Postcon，讓我們看看，德國第二大郵遞公司，SAP 完全取代了 RP，用 Oracle Fusion ERP 和雲加供應鏈管理取代了他們。

Birmingham City Council, complete SAP replacement using Oracle ERP, Oracle HCM.

伯明翰市議會，使用 Oracle ERP、Oracle HCM 完成 SAP 替換。

They're the biggest city council in the U.K.

他們是英國最大的市議會

Metro Pacific Tollways Corporation, a toll road developer in Asia, SAP replacement -- got rid of SAP and replaced it with Oracle ERP and Oracle EPM.

Metro Pacific Tollways Corporation 是亞洲的收費公路開發商，SAP 的替代品——擺脫了 SAP 並用 Oracle ERP 和 Oracle EPM 取而代之。

Africa World Airways (sic) [Africa World Airlines] replaced SAP with Oracle ERP, EPM, HCM, sales, service and marketing.

Africa World Airways (sic) [Africa World Airlines] 用 Oracle ERP、EPM、HCM、銷售、服務和營銷取代了 SAP。

Batelco, that's the Bahrain Telecom Company, they have been running SAP for a decade, and they moved to Fusion Cloud ERP, EPM and SCM.

Batelco，即巴林電信公司，他們已經運行 SAP 十年，然後他們遷移到 Fusion Cloud ERP、EPM 和 SCM。

The -- let's see, a European logistics and applied engineering group.

讓我們看看，一個歐洲物流和應用工程集團。

Actually the name -- they don't want their name specifically mentioned.

實際上是名字——他們不想特別提到他們的名字。

They're the largest private company in Belgium.

他們是比利時最大的私營公司。

And they completely replaced SAP R/3, and they thought the cost of moving to S/4HANA in the cloud was much too high and they instead went with Oracle Fusion ERP.

他們完全取代了 SAP R/3，他們認為遷移到雲中的 S/4HANA 的成本太高，他們轉而使用 Oracle Fusion ERP。

Tical Logistica, a logistics company in Latin America, had SAP replaced with Oracle ERP, SCM and sales.

拉丁美洲的一家物流公司 Tical Logistica 將 SAP 替換為 Oracle ERP、SCM 和銷售。

FedEx had SAP ERP in some places and Oracle ERP in some places.

FedEx 在某些地方使用 SAP ERP，在某些地方使用 Oracle ERP。

They've replaced out all of the -- they're in the process of replacing out all of the SAP ERP and standardizing on Oracle Fusion ERP and supply chain management.

他們已經取代了所有 - 他們正在取代所有 SAP ERP 並標準化 Oracle Fusion ERP 和供應鏈管理。

Grupo Bimbo had SAP in some divisions and Oracle in other divisions.

Grupo Bimbo 在某些部門擁有 SAP，在其他部門擁有 Oracle。

They're replacing out all of the SAP and standardizing on Oracle Fusion ERP and supply chain management.

他們正在取代所有 SAP，並在 Oracle Fusion ERP 和供應鏈管理上實現標準化。

Western Digital, complete replacement.

西部數據，完全替代。

They had SAP -- Western Digital had SAP at SanDisk.

他們有 SAP——Western Digital 在 SanDisk 有 SAP。

They had SAP at HGST.

他們在 HGST 有 SAP。

Replaced all of that out and have standardized on Oracle Fusion ERP in the cloud.

取代了所有這些，並在雲中對 Oracle Fusion ERP 進行了標準化。

DP World, they had SAP S/4HANA, SAP HR R/3.

DP World，他們有 SAP S/4HANA、SAP HR R/3。

They eliminated all of that.

他們消除了所有這些。

They're -- by the way, they're an EMEA marine terminal operator.

他們 - 順便說一句，他們是 EMEA 海運碼頭運營商。

They're located in EMEA.

他們位於 EMEA。

They're global.

它們是全球性的。

They replaced out all of their SAP and standardized on Oracle Fusion ERP in the cloud.

他們更換了所有 SAP，並在雲中對 Oracle Fusion ERP 進行了標準化。

Cohu, they're a semiconductor test and handling equipment company in North America.

Cohu，他們是北美的一家半導體測試和處理設備公司。

They had a combination of Oracle ERP and SAP ERP, replaced out all of the SAP ERP and have standardized on Oracle.

他們結合了 Oracle ERP 和 SAP ERP，取代了所有 SAP ERP，並在 Oracle 上進行了標準化。

This one is interesting.

這個很有趣。

They don't want their name mentioned.

他們不希望他們的名字被提及。

They're a huge European -- North American and European manufacturer of ATMs.

他們是一個巨大的歐洲 - 北美和歐洲自動取款機製造商。

And they've replaced out all of SAP in the German subsidiary -- well, actually throughout the world.

他們已經取代了德國子公司的所有 SAP——好吧，實際上是在全世界。

And they standardized on Fusion ERP, SCM and HCM, and they've added Oracle performance management, Fusion performance management.

他們對 Fusion ERP、SCM 和 HCM 進行了標準化，並且添加了 Oracle 績效管理、Fusion 績效管理。

Let's see.

讓我們來看看。

Another company whose name doesn't want to be mentioned.

另一家不願透露姓名的公司。

Let's see.

讓我們來看看。

They're a high tech manufacturer in North America.

他們是北美的一家高科技製造商。

They replaced out SAP R/3, ERP, HCM and standardized on Oracle Fusion in the cloud.

他們取代了 SAP R/3、ERP、HCM，並在雲中對 Oracle Fusion 進行了標準化。

albelli group, they are a manufacturer of photo products in the U.K. They're replacing SAP with, guess what, Fusion ERP.

albelli 集團，他們是英國的一家照片產品製造商。他們正在用 Fusion ERP 取代 SAP，你猜怎麼著。

CONSOL Energy, utilities company in Pittsburgh, replaced out SAP with Oracle Fusion in the cloud.

位於匹茲堡的公用事業公司 CONSOL Energy 在雲中用 Oracle Fusion 取代了 SAP。

Enbridge.

安橋。

Enbridge is an oil and gas multinational based in Calgary, Canada, replaced out all of SAP with Oracle Fusion ERP.

Enbridge 是一家位於加拿大卡爾加里的石油和天然氣跨國公司，用 Oracle Fusion ERP 取代了所有 SAP。

Gemini Industries -- Gemini Energy.

雙子座工業——雙子座能源。

They're in LAD.

他們在 LAD。

They're an energy transmission system, the largest in Brazil, with substations all across Brazil, replaced SAP with Fusion ERP.

他們是巴西最大的能源傳輸系統，在巴西各地都有變電站，用 Fusion ERP 取代了 SAP。

GoodStorage in Latin America, a self-storage company in Brazil, again, got rid of SAP, put in Fusion ERP.

拉丁美洲的 GoodStorage，巴西的一家自助倉儲公司，再次擺脫了 SAP，引入了 Fusion ERP。

Grupo Globo.

環球集團。

They're a media and entertainment -- Latin America's largest media and entertainment company, replaced SAP with Oracle ERP and HCM, standardized on Oracle ERP and HCM.

他們是一家媒體和娛樂公司——拉丁美洲最大的媒體和娛樂公司，用 Oracle ERP 和 HCM 取代了 SAP，並在 Oracle ERP 和 HCM 上實現了標準化。

IQVIA, complete SAP replacement.

IQVIA，完整的 SAP 替換。

They're a manufacturing pharmaceutical company in North America.

他們是北美的一家製造製藥公司。

They've moved away from SAP, standardizing on Fusion in the cloud.

他們已經離開 SAP，在雲中對 Fusion 進行標準化。

Corian, a health care company in EMEA, long-term care nursing homes, 300,000 senior citizens across Western Europe, replaced SAP with Oracle Fusion.

歐洲、中東和非洲地區的一家醫療保健公司 Corian、長期護理療養院、西歐 300,000 名老年人用 Oracle Fusion 取代了 SAP。

NatWest Group.

NatWest 集團。

NatWest Group includes NatWest, ABN AMRO, Royal Bank of Scotland, Ulster Bank and more.

NatWest Group 包括 NatWest、ABN AMRO、Royal Bank of Scotland、Ulster Bank 等。

They had a combination of Oracle ERP and SAP ERP.

他們結合了 Oracle ERP 和 SAP ERP。

They're replacing out all of the SAP ERP and standardizing on Oracle Fusion in the cloud.

他們正在替換所有 SAP ERP 並在雲中對 Oracle Fusion 進行標準化。

Wind Tre.

風樹。

Wind Tre is a telecommunications company, the largest mobile operator in Italy.

Wind Tre 是一家電信公司，是意大利最大的移動運營商。

Again, completely replacing out SAP with Oracle Fusion ERP, SCM and EPM.

同樣，用 Oracle Fusion ERP、SCM 和 EPM 完全取代 SAP。

Okay.

好的。

Now I'm going to go into the second group of companies, and these are companies that have started putting in Oracle Fusion modules but have yet -- they have not replaced core financials as yet.

現在我要進入第二組公司，這些公司已經開始安裝 Oracle Fusion 模塊，但還沒有取代核心財務。

So they're buying our supply chain.

所以他們正在購買我們的供應鏈。

They're buying our procurement.

他們正在購買我們的採購。

They're buying our transportation management.

他們正在購買我們的運輸管理。

They're buying our global trade management.

他們正在購買我們的全球貿易管理。

But they have not yet bought Oracle Financials, so I want to be very specific.

但他們還沒有購買 Oracle Financials，所以我想說得非常具體。

But they are buying lots and lots of Fusion products.

但他們購買了很多很多 Fusion 產品。

GN airlines; Apollo Tyres; Akamai, an adhesive solutions company in the U.K.; Aarhus Kommune, they're a municipality in Central Denmark.

GN航空公司；阿波羅輪胎；英國粘合劑解決方案公司 Akamai； Aarhus Kommune，他們是丹麥中部的一個自治市。

Caesars Enterprise Services.

凱撒企業服務。

To give you an idea, they bought procurement and supply chain, big hospitality company obviously in North America.

為了給你一個想法，他們購買了採購和供應鏈，顯然是北美的大型酒店公司。

Cepheid, a Danaher, a product life -- they bought product life cycle management.

Cepheid、Danaher、產品生命——他們購買了產品生命週期管理。

They're a health care company.

他們是一家醫療保健公司。

Department of Education and Training in Australia bought procurement.

澳大利亞教育培訓部購買採購。

DHL with an SAP replacement in some countries.

在某些國家使用 SAP 替代品的 DHL。

So some countries are still running SAP.

所以一些國家仍在運行 SAP。

But the new implementations that are going in are -- in other countries, not in Germany as yet, in other countries are Oracle Fusion ERP.

但是正在實施的新實施是——在其他國家，目前還沒有在德國，在其他國家是 Oracle Fusion ERP。

Dow bought supply chain management and transportation management.

陶氏收購了供應鏈管理和運輸管理。

FEMSA bought -- replaced all of SAP in some of their subsidiaries and bought supply chain warehouse management, supply chain planning, ERP, again, and in some subsidiaries, all of ERP including accounting, procurement, all of that.

FEMSA 在他們的一些子公司購買了 - 取代了所有 SAP，並再次購買了供應鏈倉庫管理、供應鏈計劃、ERP，在一些子公司，所有的 ERP 包括會計、採購，所有這些。

Fujitsu Services, a manufacturer in Japan, again, the parent is running SAP financials, but subs all over the world are moving to Oracle Fusion ERP.

日本製造商 Fujitsu Services 的母公司再次運行 SAP 財務，但全世界的子公司都在轉向 Oracle Fusion ERP。

Keurig Dr Pepper, again, bought supply chain.

Keurig Dr Pepper 再次收購了供應鏈。

Guardian bought all of -- a financial services company in North America, bought all of ERP.

Guardian 收購了北美的一家金融服務公司，收購了所有的 ERP。

Honda bought -- still runs SAP financials, but just recently bought Fusion supply chain, Fusion transportation management and is moving to -- from on-premise to the cloud.

本田收購了——仍然運行 SAP 財務，但最近剛剛收購了 Fusion 供應鏈、Fusion 運輸管理，並且正在轉向——從內部部署到雲端。

[Invetech], again, a North American company, again, parent still running SAP financials, but the subs are running Oracle Fusion.

[Invetech]，又是一家北美公司，母公司仍在運行 SAP 財務，但子級正在運行 Oracle Fusion。

Jackson Life, Lakshmi Cement.

Jackson Life、Lakshmi Cement。

I'm not -- I'm going to read these faster now.

我不是——我現在要更快地閱讀這些內容。

Juniper Networks, Lloyds Bank, Move, Inc., Munich Re.

瞻博網絡、勞埃德銀行、Move, Inc.、Munich Re。

The largest food company in the world bought -- just bought Oracle performance management.

世界上最大的食品公司購買了——剛剛購買了 Oracle 績效管理。

News America Marketing; Olam International; PG&E; [PORCELANOSA]; Republic Services; SAC Wireless, a Nokia company; Samsonite; PUMA; Santander Bank; (inaudible); Therma-Tru Doors.

新聞美國營銷；奧蘭國際； PG&E; [寶瓷蘭]；共和國服務； SAC Wireless，諾基亞旗下公司；新秀麗；彪馬;桑坦德銀行； （聽不清）； Therma-Tru 門。

Okay.

好的。

I'm going to stop right there or I'll take up all of the time.

我會就此打住，否則我會佔用所有時間。

You won't be able to ask Safra questions.

您將無法向 Safra 提問。

Okay.

好的。

I don't want to do that.

我不想那樣做。

Okay.

好的。

All right.

好的。

So again, the list is actually longer than the 100-plus companies -- I did read over 100 companies, as I'm sure you're painfully aware of.

再一次，這份名單實際上比 100 多家公司還要長——我確實閱讀了 100 多家公司，我相信你已經痛苦地意識到了這一點。

The list is actually longer than the 100 companies I've just read.

該列表實際上比我剛剛閱讀的 100 家公司還要長。

Some of our most important wins at our very largest companies in regulated industries, such as banking and utilities, who are currently in the process of migrating from SAP ERP to Fusion ERP prefer not to be publicly named on this call for obvious reasons.

我們在受監管行業的最大公司（例如銀行和公用事業公司）取得的一些最重要的勝利，這些公司目前正在從 SAP ERP 遷移到 Fusion ERP，出於顯而易見的原因，我們不願在此次電話會議上公開其姓名。

They don't want -- even though they are often a reference for us, private reference where people are considering the same move, they don't want to be on -- their name on this call because they want to maintain the best possible relations with SAP as they -- even though they are in the process of transitioning away from SAP.

他們不希望——儘管他們通常是我們的參考，私人參考，人們正在考慮同樣的舉動，他們不想參加——他們的名字出現在這個電話會議上，因為他們想保持最好的與 SAP 的關係——即使他們正處於從 SAP 過渡的過程中。

All right.

好的。

So I'd like to make one last point and then turn it back over to Safra.

所以我想提出最後一點，然後將其轉回給 Safra。

Specifically, to try to answer one key question: How come so many customers are moving from SAP ERP to Fusion ERP?

具體來說，就是嘗試回答一個關鍵問題：為什麼會有這麼多客戶從 SAP ERP 遷移到 Fusion ERP？

This has never happened before, a major migration between ERP vendors.

這是以前從未發生過的，是 ERP 供應商之間的一次重大遷移。

Well, if you want to know the answer, read the Gartner report comparing Oracle ERP to SAP ERP.

那麼，如果您想知道答案，請閱讀 Gartner 比較 Oracle ERP 和 SAP ERP 的報告。

Please don't take my word for it.

請不要相信我的話。

Read the report.

閱讀報告。

It's very short, and it's to the point.

它非常簡短，而且切中要害。

Gartner ranks Oracle Fusion ERP far in front.

Gartner 將 Oracle Fusion ERP 評為遙遙領先。

I mean far like you can't find a Magic Quadrant where there's more -- a bigger gap between #1 and #2.

我的意思是，就像你找不到魔力像限一樣，那裡有更多——#1 和#2 之間更大的差距。

And so Gartner ranks Oracle Fusion ERP far in front of all the other cloud ERP systems.

因此，Gartner 將 Oracle Fusion ERP 排在所有其他雲 ERP 系統之前。

But what's surprising is SAP isn't #2.

但令人驚訝的是 SAP 並不是排名第二的。

SAP isn't #3.

SAP 不是#3。

SAP isn't listed among the leaders.

SAP 未被列為領先者。

SAP is listed among the laggards.

SAP 被列為落後者之一。

Gartner -- if you read the text, Gartner points out, and I quote, "SAP's own reference customers scored SAP in the lower half of cloud ERP vendors." I'm going to read that again.

Gartner——如果你讀過這篇文章，Gartner 指出，我引用，“SAP 自己的參考客戶在雲 ERP 供應商的下半部分給 SAP 打分。”我要再讀一遍。

"SAP's own reference customers scored SAP in the lower half of cloud ERP vendors." SAP, the once dominant on-premise ERP market leader, is currently not competitive in the cloud ERP market.

“SAP 自己的參考客戶在雲 ERP 供應商的下半部分給 SAP 打分。” SAP 曾經是內部部署 ERP 市場的領導者，目前在雲 ERP 市場上沒有競爭力。

How could that have happened?

怎麼會這樣？

Because SAP never rewrote their ERP system for the cloud.

因為 SAP 從未為雲重寫他們的 ERP 系統。

It's that same 30-year-old code.

這是同樣的 30 年前的代碼。

They never rewrote their ERP system for the cloud, and it's too late for them to start now.

他們從未為雲重寫過 ERP 系統，現在開始為時已晚。

I'll turn it back over to Safra.

我會把它轉回 Safra。

Thank you, Larry.

謝謝你，拉里。

Erica, if you could please poll the audience for questions?

埃里卡，你能不能請聽眾提問？

(Operator Instructions) Our first question comes from Michael Turits with KeyBanc Capital.

（操作員說明）我們的第一個問題來自 KeyBanc Capital 的 Michael Turits。

Great.

偉大的。

I'd like to switch over to your database.

我想切換到您的數據庫。

You've made meaningful improvements in both cloud and customer at OCI 2, which were both -- 1 of the 2 are required for ADB.

您在 OCI 2 的雲和客戶方面都做出了有意義的改進，這兩者都是 - ADB 需要 2 項中的 1 項。

So are those improvements enough that we're now starting to see the upgrades to ADB?

那麼這些改進是否足以讓我們現在開始看到 ADB 的升級？

And are you able to monetize those upgrades to the point where we'll start to see database growth acceleration?

您是否能夠將這些升級貨幣化到我們將開始看到數據庫增長加速的地步？

The answer is I think there's no question you're going to see a lot of database growth -- a lot of database acceleration starting next year, which we're a quarter away from.

答案是我認為毫無疑問你會看到大量的數據庫增長——從明年開始大量的數據庫加速，我們還有四分之一的時間。

But we'll be fine in Q4.

但我們在第四季度會沒事的。

Again, Autonomous Database is growing pretty rapidly.

同樣，自治數據庫正在快速增長。

But we expect it really to explode next year, and I really do mean very, very rapid growth next year.

但我們預計明年它真的會爆發，我的意思是明年增長非常非常快。

I'm not really ready to disclose our plans as to why I think it's going to suddenly spike, but we expect very, very rapid database growth next year.

我還沒有真正準備好透露我們的計劃，為什麼我認為它會突然飆升，但我們預計明年數據庫會非常非常快速地增長。

Our next question comes from Mark Murphy with JPMorgan.

我們的下一個問題來自摩根大通的馬克墨菲。

This SAP replacement wave, it feels like kind of a historic moment because that kind of activity, it's usually so rare, and these -- the logos are pretty large that you're mentioning.

這個 SAP 更換浪潮，感覺就像是一個歷史性的時刻，因為這種活動通常很少見，而且這些 - 您提到的徽標非常大。

So when we see...

所以當我們看到...

Absolutely.

絕對地。

I'm sorry for interrupting.

抱歉打擾了。

The really spectacular logos are not (inaudible) though, FedEx, there are -- some of them are pretty spectacular in there.

真正壯觀的標誌並不是（聽不清），聯邦快遞，有 - 其中一些非常壯觀。

But we have some that are much larger and much -- and absolutely shocking.

但我們有一些更大、更多——而且絕對令人震驚。

And I've been alluding to this, but sometimes, we're in the middle of an 18-month implementation and the customer doesn't want to be mentioned.

我一直在暗示這一點，但有時，我們正處於 18 個月的實施過程中，而客戶不想被提及。

If I could mention them all, it would be -- it's front page news.

如果我能全部提到它們，那就是——這是頭版新聞。

I mean it's a very big deal.

我的意思是這是一件大事。

Yes, I agree with you.

是的，我同意你的看法。

It's an historic event.

這是一個歷史性的事件。

It is -- I think a long time ago I said there are 2 technologies that will drive Oracle's future.

它是——我想很久以前我說過有兩種技術將推動 Oracle 的未來。

One is Autonomous Database, and the other is ERP.

一個是自治數據庫，另一個是ERP。

We expect -- we are -- again, reading the Gartner report, we are so dominant.

我們期望 - 我們 - 再次閱讀 Gartner 報告，我們是如此的占主導地位。

Our product is so much better than anyone else's product in the cloud.

我們的產品比其他任何人的雲產品都要好得多。

We expect to get a significant number, more than half of SAP's customers, we'll get.

我們希望獲得大量，超過一半的 SAP 客戶，我們會得到。

But keeping our own, plus getting a lot from the smaller companies like Infor and Lawson.

但保留我們自己的，再加上從像 Infor 和 Lawson 這樣的小公司那裡得到很多。

So Larry, the ones that we see, which aren't too shabby, you mentioned DHL and Honda and Lloyds Bank.

所以拉里，我們看到的那些並不太破舊的，你提到了 DHL、本田和勞埃德銀行。

Is that a precursor to moving to Oracle core financials eventually?

這是最終轉向 Oracle 核心財務的先兆嗎？

And I'm just wondering which of Oracle's strengths is really catalyzing that wave of replacements?

我只是想知道 Oracle 的哪些優勢真正催生了這一波更換浪潮？

Okay.

好的。

So there are 2 lists.

所以有 2 個列表。

One -- the first half of the list that I read, and they're about equal-sized lists, were people that already moved from SAP financials to Oracle financials.

一個——我讀過的列表的前半部分，它們是大小相等的列表，是已經從 SAP 財務部門轉移到 Oracle 財務部門的人。

The second list were people that had partially moved to Oracle but still were running SAP financials in some places.

第二個名單是部分遷移到 Oracle 但仍在某些地方運行 SAP 財務的人員。

In other words, we don't consider it a complete win until we replace out -- if we just sell procurement and supply chain and manufacturing and things like that but they still run SAP financials, we don't consider that a complete win.

換句話說，我們不認為這是一個完全的勝利，直到我們取代——如果我們只出售採購和供應鏈以及製造和類似的東西，但他們仍然運行 SAP 財務，我們不認為這是一個完全的勝利。

That's what we call our surround strategy.

這就是我們所說的環繞策略。

But once you start using our cloud products and compare that with SAP's on-premise products, we think the vast majority of these companies that have started the journey will finish the journey and don't want financials in the cloud, just like they have supply chain in the cloud and procurement in the cloud.

但是一旦您開始使用我們的雲產品並將其與 SAP 的內部部署產品進行比較，我們認為絕大多數已經開始這一旅程的公司將結束這段旅程並且不希望在雲中進行財務，就像他們有供應一樣鏈在雲端，採購在雲端。

So yes, we expect companies -- we've already seen companies migrate off the second list.

所以是的，我們期待公司——我們已經看到公司從第二個名單中遷移出來。

They buy procurement.

他們購買採購。

They buy supply chain, and they say, "Okay.

他們購買供應鏈，然後說，“好的。

I like that.

我喜歡。

I'm now going to buy financials." So yes, we expect all of this -- or excuse me, the vast majority of those customers to eventually standardize on Fusion Cloud ERP for everything.

我現在要購買金融產品。”所以，是的，我們希望所有這些——或者對不起，這些客戶中的絕大多數最終會在 Fusion Cloud ERP 上實現所有方面的標準化。

Our next question is from Mark Moerdler with Sanford Bernstein.

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

Appreciate the additional color that Safra gave on the call.

感謝 Safra 在電話會議上提供的額外顏色。

I'd like to turn to OCI Gen 2. We've been hearing about security concerns from consumer Internet companies.

我想談談 OCI Gen 2。我們一直聽到來自消費者互聯網公司的安全問題。

To what extent has OCI security technology helped you win business with these companies?

OCI 安全技術在多大程度上幫助您贏得了與這些公司的業務？

And is consumer Internet a big driver for OCI Gen 2?

消費者互聯網是 OCI Gen 2 的重要推動力嗎？

Also, to be clear, this is not about TikTok.

另外，需要明確的是，這與 TikTok 無關。

It's about all the other consumer Internet company opportunities.

這是關於所有其他消費互聯網公司的機會。

Yes.

是的。

Well, I think there are 2 things that are interesting about OCI.

好吧，我認為 OCI 有兩點很有趣。

One -- on the security front.

一——在安全方面。

One is we believe security should always be turned on.

一是我們認為安全應該始終處於打開狀態。

In other words, there is no light switch: security on, security off.

換句話說，沒有電燈開關：安全開啟，安全關閉。

We have these things called Max Security Zones in OCI where you cannot turn security off.

我們在 OCI 中有這些稱為最大安全區的東西，您無法在其中關閉安全性。

Max security is always turned on.

始終打開最大安全性。

It's a safe place to go inside of OCI.

這是進入 OCI 內部的安全場所。

No one has anything like this where security is always turned on.

沒有人擁有像這樣始終打開安全性的東西。

You cannot turn it off.

您無法將其關閉。

You cannot open up a link -- a network link that puts your infrastructure and your data in jeopardy.

你不能打開一個鏈接——一個將你的基礎設施和數據置於危險之中的網絡鏈接。

That's one thing.

那是一回事。

So security is always on.

所以安全永遠在線。

The second thing is autonomy is very interesting because the Oracle Autonomous Database -- by the way, Oracle Autonomous Database is not the only autonomous product we have.

第二件事是自治非常有趣，因為 Oracle 自治數據庫——順便說一句，Oracle 自治數據庫不是我們擁有的唯一自治產品。

We have Autonomous Linux that is the foundation operating system inside of the OCI network.

我們擁有 Autonomous Linux，它是 OCI 網絡內部的基礎操作系統。

Oracle Autonomous Linux, Oracle Autonomous Database, has no human labor associated with it.

Oracle Autonomous Linux，Oracle Autonomous Database，沒有與之相關的人工勞動。

Okay.

好的。

So everybody says, well, that's a huge cost savings.

所以每個人都說，嗯，這是一個巨大的成本節約。

It is, but that's not the most important benefit.

是的，但這不是最重要的好處。

The most important benefit, if there's no human labor, there is no human error.

最重要的好處是，如果沒有人工勞動，就不會出現人為錯誤。

If there's no human labor, there is no human mishap.

如果沒有人類勞動，就沒有人類災難。

There's no opportunity for an insider to corrupt the system.

內部人員沒有機會破壞系統。

There's no opportunity for a user to misconfigure a system that creates a security vulnerability that will lead to the loss of data.

用戶沒有機會錯誤配置系統，從而產生會導致數據丟失的安全漏洞。

So we think one of the most attractive aspects of OCI other than its high performance, low cost, all of -- everyone likes to pay less, and they do with OCI.

因此，我們認為 OCI 最吸引人的方面之一是它的高性能、低成本，所有這些——每個人都喜歡花更少的錢，他們也喜歡 OCI。

But we do a better job of securing your data than any other cloud vendor.

但我們在保護您的數據方面比任何其他雲供應商都做得更好。

We've seen that be the decisive feature in winning a lot of these deals with ISVs and end user customers.

我們已經看到，這是贏得與 ISV 和最終用戶客戶的大量此類交易的決定性特徵。

Our next question comes from Phil Winslow with Wells Fargo.

我們的下一個問題來自富國銀行的 Phil Winslow。

Congrats on a strong quarter.

祝賀一個強勁的季度。

I just wanted to focus in on the license line.

我只想專注於許可證行。

It was up 4% as reported, flat constant currency off of what was actually the toughest comp for this fiscal year.

據報導，它上漲了 4%，與本財年實際上最艱難的競爭相比持平。

I wonder if you can provide some context on sort of what is driving that, particularly sort of relative to the strength that you're also seeing in the cloud side?

我想知道您是否可以提供一些關於推動這種情況的背景，特別是相對於您在雲方面也看到的力量？

Is this Oracle database?

這是 Oracle 數據庫嗎？

Is this the add-ons to the Oracle database?

這是 Oracle 數據庫的附加組件嗎？

Any sort of more color there and then also, in particular, sort of in conjunction with the cloud?

有沒有更多的顏色，特別是與雲的結合？

That would be great.

那太好了。

Sure.

當然。

Let me take that.

讓我拿那個。

So the Oracle database remains very strong, and what's good about the Oracle database is you can also bring your own license to the cloud.

所以 Oracle 數據庫仍然非常強大，Oracle 數據庫的好處是您還可以將自己的許可帶到雲中。

So it's both on-premise and in the cloud can be used there, and it remains very, very strong.

所以它既可以在內部部署也可以在雲中使用，而且它仍然非常非常強大。

The installed base of the Oracle database continues to grow, and that is, of course, our central piece.

Oracle 數據庫的安裝基數繼續增長，這當然是我們的核心部分。

Now in addition, Java on-premise continues to do very well as more and more companies continue to invest in Java and trust Java for their own applications.

此外，隨著越來越多的公司繼續投資於 Java 並信任 Java 用於他們自己的應用程序，Java 內部部署繼續做得很好。

And in addition, our vertical applications, some of our industry applications, still require on-premise license for the customers' use.

此外，我們的垂直應用程序，我們的一些行業應用程序，仍然需要內部部署許可證供客戶使用。

We also have cloud services in many of these verticals.

我們在許多這些垂直領域也有云服務。

But especially in telecommunications, as many of the communications companies move to 5G, we are a very central part of their transition to 5G and need our license in that -- in those areas.

但特別是在電信領域，隨著許多通信公司轉向 5G，我們是他們向 5G 過渡的核心部分，需要我們在這些領域的許可。

So database tops, doing incredibly well; Java, doing very, very well; and our vertical applications.

所以數據庫名列前茅，做得非常好； Java，做得非常非常好；以及我們的垂直應用程序。

And then pretty much everything else, of course, as you know, is offered just in the cloud.

然後幾乎所有其他東西，當然，正如你所知，都是在雲中提供的。

Our final question comes from Brad Zelnick with Crédit Suisse.

我們的最後一個問題來自 Crédit Suisse 的 Brad Zelnick。

Congrats as well on a great quarter.

祝賀一個偉大的季度。

Larry, it's so great to hear every single one of those SAP wins, especially since investors think of SAP's customer relationships as being so deep.

拉里，很高興聽到 SAP 每一次獲勝，特別是因為投資者認為 SAP 的客戶關係如此深厚。

So clearly, by displacing them in so many accounts, it speaks volumes to the quality of your product and trust that these companies place with Oracle.

很明顯，通過在如此多的帳戶中取代它們，它充分說明了您的產品質量以及這些公司對 Oracle 的信任。

So my question is this, why now and why from a product perspective?

所以我的問題是，為什麼現在以及為什麼從產品的角度來看？

You mentioned Gartner's take.

你提到了 Gartner 的看法。

But since Oracle has always competed on having better product, what have you been doing product-wise that's enabled you to pull ahead of them like this?

但是，由於 Oracle 一直在競爭擁有更好的產品，您在產品方面做了哪些工作，使您能夠像這樣領先於他們？

And what do you need to continue to do product-wise to remain ahead?

您需要在產品方面繼續做什麼才能保持領先地位？

So well, we started 10 years ago to build Fusion Financials for the cloud, to rewrite all -- we have PeopleSoft ERP, JD Edwards ERP and of course, Oracle E-Business Suite.

好吧，我們 10 年前就開始為雲構建 Fusion Financials，重寫所有內容——我們擁有 PeopleSoft ERP、JD Edwards ERP，當然還有 Oracle E-Business Suite。

We had these 3 separate on-premise ERP systems because -- and we decided a decade ago to rewrite all of that for the cloud.

我們擁有這 3 個獨立的本地 ERP 系統，因為——我們十年前決定為雲重寫所有這些系統。

And SAP, unbelievably, they just -- I mean -- and by the way, we did a very good job.

令人難以置信的是，SAP 只是——我的意思是——順便說一下，我們做得非常好。

We started a decade ago.

我們十年前就開始了。

And we did, I think, a very good job redoing -- a big job, to say the least, redoing our ERP products for the cloud.

我認為，我們做了一項非常好的重做工作——至少可以說，這是一項重要的工作，為雲重做我們的 ERP 產品。

That said, SAP chose not to rewrite their ERP products.

也就是說，SAP 選擇不重寫他們的 ERP 產品。

Instead, they made a bunch of acquisitions.

相反，他們進行了一系列收購。

They bought Concur.

他們買了 Concur。

They bought Ariba.

他們收購了 Ariba。

They bought SuccessFactors.

他們收購了 SuccessFactors。

But they never -- and we made some acquisitions also, by the way.

但他們從來沒有——順便說一句，我們也進行了一些收購。

We bought Taleo and other -- right now and other things.

我們買了 Taleo 和其他——現在和其他東西。

But we rewrote everything for the cloud.

但是我們為雲重寫了一切。

SAP instead embedded their own database called HANA and focused on this new database and never really rewrote their ERP code for the cloud.

SAP 相反嵌入了他們自己的名為 HANA 的數據庫，並專注於這個新數據庫，從未真正為雲重寫他們的 ERP 代碼。

I mean it's just an unbelievable error.

我的意思是這只是一個令人難以置信的錯誤。

They worked on a new database.

他們在一個新的數據庫上工作。

And the thing we're competing with, so-called S/4HANA in the cloud, that's what SAP calls it, is not a cloud product at all.

而我們正在與之競爭的東西，即所謂的雲中的 S/4HANA，也就是 SAP 所說的，根本不是雲產品。

It is the 35-year-old ABAP -- this is written in a programming language called ABAP.

它是 35 歲的 ABAP——這是用一種叫做 ABAP 的編程語言編寫的。

Oracle Fusion is written entirely in Java, and it's entirely rewritten over the last decade.

Oracle Fusion 完全用 Java 編寫，並在過去十年中完全重寫。

SAP stuff is literally 30 years old, the same stuff that they've always had that they now will host for you.

SAP 的東西實際上已經有 30 年的歷史了，他們一直擁有的東西現在將為您託管。

So I would say we did a competent job rewriting for the cloud.

所以我想說我們為雲做了一個稱職的重寫工作。

SAP just entirely missed the boat.

SAP 完全錯失良機。

So SAP really is more responsible for our leadership position than we are.

所以 SAP 對我們的領導地位確實比我們更負責任。

The -- again, they never rewrote their application for the cloud.

再一次，他們從未為雲重寫過他們的應用程序。

It's unbelievable what's happened, and their customers are noticing.

發生的事情令人難以置信，他們的客戶也注意到了。

We offer a new release of our ERP system every 90 days.

我們每 90 天發布一次新版本的 ERP 系統。

We offer new features and functions.

我們提供新的特性和功能。

That's how the cloud works.

這就是雲的工作原理。

You're on the cloud.

你在雲端。

You get new features and functions.

您將獲得新的特性和功能。

You're on this 90-day cadence.

您正處於這個 90 天的節奏中。

We give you more features and more capabilities every 90 days.

我們每 90 天就會為您提供更多功能。

SAP has nothing like that.

SAP 沒有這樣的東西。

It's not a cloud system.

它不是雲系統。

It simply is, okay, you can get the old -- you can get the SAP S/4HANA and you can get it hosted by somebody, but they don't even have a cloud.

很簡單，好吧，你可以得到舊的——你可以得到 SAP S/4HANA，你可以讓它由某人託管，但他們甚至沒有云。

They never built a cloud.

他們從未建造過雲。

That's what happened.

事情就是這樣。

It's amazing.

太奇妙了。

Thank you, Larry.

謝謝你，拉里。

A telephonic replay of this conference call will be available for the next 24 hours.

此電話會議的電話重播將在接下來的 24 小時內提供。

Dial-in information can be found in the press release issued earlier today.

撥入信息可在今天早些時候發布的新聞稿中找到。

Please call the Investor Relations department with any follow-up questions from this call, and we look forward to speaking with you.

如有任何後續問題，請致電投資者關係部門，我們期待與您交談。

Thank you for joining us today.

感謝您今天加入我們。

And with that, I'll turn the call back to Erica for closing.

有了這個，我會把電話轉回埃里卡關閉。

Thank you for joining today's Oracle's Third Quarter 2021 Earnings Conference Call.

感謝您參加今天的 Oracle 2021 年第三季度收益電話會議。

We appreciate your participation.

感謝您的參與。

You may now disconnect.

您現在可以斷開連接。