甲骨文 (ORCL) 2019 Q4 法說會逐字稿

Welcome to Oracle's Fourth Quarter 2019 Earnings Conference Call.

歡迎參加 Oracle 2019 年第四季度收益電話會議。

Now I'd like to turn today's call over to Ken Bond, Senior Vice President, Investor Relations.

現在我想把今天的電話轉給投資者關係高級副總裁 Ken Bond。

Sir, I hand the floor to you.

主席先生，我把發言權交給你。

Thank you, Holly.

謝謝你，霍莉。

Good afternoon, everyone, and welcome to Oracle's Fourth Quarter and Fiscal Year 2019 Earnings Conference Call.

大家下午好，歡迎參加 Oracle 2019 財年第四季度收益電話會議。

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。

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

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)；以及首席執行官 Safra Catz 和 Mark Hurd。

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。

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

這些前瞻性陳述還受到風險和不確定性的影響，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 publicly release any revisions to 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公開發布對這些前瞻性陳述的任何修訂。

Before taking questions, we'll begin with a few prepared remarks.

在回答問題之前，我們將從一些準備好的評論開始。

And with that, I'd like to turn the call over to Safra.

有了這個，我想把電話轉給 Safra。

Thanks, Ken.

謝謝，肯。

Good afternoon, everyone.

大家下午好。

As you can see, we had a terrific quarter with total revenue growth 1 point above the high end of my guidance and earnings per share $0.07 above the high end of my U.S. dollar guidance.

正如你所看到的，我們有一個非常棒的季度，總收入增長比我的指導上限高出 1 個百分點，每股收益比我的美元指導上限高出 0.07 美元。

I'll first go over Q4 and recap fiscal year 2019 before moving on to my guidance.

在繼續我的指導之前，我將首先回顧第四季度並回顧 2019 財年。

I'll then turn the call over to Larry and Mark for their comments.

然後我會將電話轉給 Larry 和 Mark，徵求他們的意見。

As in prior quarters, I'll review our non-GAAP results using constant dollar growth rates unless I say otherwise.

與前幾個季度一樣，除非另有說明，否則我將使用不變的美元增長率來審查我們的非 GAAP 結果。

Now the effects of currency movements in Q4 were largely as expected, maybe a smidge more incremental headwind than expected, but that was not a full percentage more.

現在，第四季度貨幣走勢的影響基本符合預期，可能比預期的逆風增加了一點點，但這並沒有多出一個完整的百分比。

Anyway, total Cloud Services and License Support revenues for the quarter were $6.8 billion, up 3%, while Cloud License and On-Premise License revenues were $2.5 billion, up 15%.

無論如何，本季度雲服務和許可支持總收入為 68 億美元，增長 3%，而云許可和內部部署許可收入為 25 億美元，增長 15%。

In particular, technology license growth was up 19%, making it abundantly clear that customers are investing in the Oracle platform.

特別是，技術許可增長了 19%，這充分錶明客戶正在投資 Oracle 平台。

The key database options necessary to run the Oracle Autonomous Database service grew 21%.

運行 Oracle 自治數據庫服務所需的關鍵數據庫選項增長了 21%。

I cannot stress enough the stability and growth of our base of customers quarter-after-quarter.

我怎麼強調我們客戶群的穩定性和每個季度的增長都不為過。

Our customers are maintaining and expanding their Oracle environment.

我們的客戶正在維護和擴展他們的 Oracle 環境。

And in our BYOL, Bring Your Own License model, they have the portability to use their licenses on-premise, in the cloud or via hybrid environment.

在我們的 BYOL（自帶許可）模型中，他們可以在本地、雲端或通過混合環境使用許可。

This popularity is largely because our products are capable of doing things others just can't do, whether it's security, performance or scalability, and in our cloud, autonomous capabilities.

這種流行很大程度上是因為我們的產品能夠做其他人做不到的事情，無論是安全性、性能還是可擴展性，以及在我們的雲中的自主能力。

As our customers adopt our technologies, whether via licenses or cloud services, our overall customer base is growing and that growth is starting to accelerate.

隨著我們的客戶採用我們的技術，無論是通過許可還是雲服務，我們的整體客戶群都在增長，而且增長速度開始加快。

In addition, the recent interconnect agreement with Microsoft will only help accelerate the transition from on-premise database to the Autonomous Database service.

此外，最近與微軟達成的互連協議只會有助於加速從內部部署數據庫到自治數據庫服務的過渡。

Now to the numbers.

現在到數字。

The gross margin for Cloud Services and License Support was 86%.

雲服務和許可支持的毛利率為 86%。

And as we continue to scale and grow, I expect this will go even higher.

隨著我們繼續擴大規模和發展，我預計這會更高。

Total revenues for the quarter were $11.1 billion, up 4% from last year.

本季度總收入為 111 億美元，比去年增長 4%。

Non-GAAP operating income was $5.3 billion, up 7% from last year.

非 GAAP 營業收入為 53 億美元，比去年增長 7%。

And the operating margin was 47%, which was up from 46% last year.

營業利潤率為 47%，高於去年的 46%。

The non-GAAP tax rate for the quarter was at 16.4%, slightly below our base tax rate of 20% 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 16.4%，略低於我們 20% 的基本稅率。

And EPS was $1.16 in U.S. dollars and up 27% in constant currency and 23% in USD.

每股收益按美元計算為 1.16 美元，按固定匯率計算增長 27%，按美元計算增長 23%。

The GAAP tax rate was 3.3%, also a result of some discrete items.

GAAP 稅率為 3.3%，也是一些離散項目的結果。

And GAAP EPS was $1.07 in U.S. dollars and up 41% in constant currency, 36% in U.S. dollars.

GAAP 每股收益按美元計算為 1.07 美元，按固定匯率計算增長 41%，按美元計算增長 36%。

Now moving on to recap the full fiscal year.

現在繼續回顧整個財政年度。

Total Cloud Services and License Support revenue was $26.7 billion, growing 4%.

雲服務和許可支持總收入為 267 億美元，增長 4%。

Total company revenues for the year was $39.5 billion, growing 3% compared to 2% total revenue growth in FY '18.

公司全年總收入為 395 億美元，增長 3%，而 18 財年總收入增長 2%。

Non-GAAP EPS was USD 3.52, up 19% in constant currency, up 16% in U.S. dollars, driven by operating income growth, share repurchases and lower tax rate.

非美國通用會計準則每股收益為 3.52 美元，按固定匯率計算增長 19%，按美元計算增長 16%，主要受營業收入增長、股票回購和較低稅率的推動。

This is mirrored in our operating margin percentage for the full year, which was up slightly to 44% this year.

這反映在我們全年的營業利潤率中，今年略微上升至 44%。

As a reminder, our best ever full year operating margin was 47%, and I expect we will surpass that in the coming years as our total revenue growth accelerates and we benefit from greater scale in our business.

提醒一下，我們有史以來最好的全年營業利潤率為 47%，我預計隨著我們的總收入增長加速以及我們從更大的業務規模中受益，我們將在未來幾年超過這一水平。

Operating cash flow over the last 4 quarters was $14.6 billion, lower than last year, only because, as you will see at the bottom of our cash flow statement in the 10-K, FY '19 cash tax payments were $1.3 billion higher this year, including the $610 million installment towards the transition tax in Q2 and nearly $540 million in higher tax payments in Q4.

過去 4 個季度的運營現金流為 146 億美元，低於去年，正如您將在 10-K 現金流量表底部看到的那樣，今年 19 財年的現金納稅額增加了 13 億美元，包括第二季度過渡稅的 6.1 億美元分期付款和第四季度近 5.4 億美元的更高稅款。

Capital expenditures for the year were $1.7 billion.

這一年的資本支出為 17 億美元。

And free cash flow over the last 4 quarters was $12.9 billion.

過去 4 個季度的自由現金流為 129 億美元。

We now have approximately $38 billion in cash and marketable securities.

我們現在擁有大約 380 億美元的現金和有價證券。

The short-term deferred revenue balance is $8.4 billion, up 3% in constant currency.

短期遞延收入餘額為 84 億美元，按固定匯率計算增長 3%。

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。

This quarter, we repurchased 112 million shares for a total of $6 billion.

本季度，我們以總計 60 億美元回購了 1.12 億股股票。

Over the last 12 months, we have repurchased 734 million shares for a total of $36 billion.

在過去的 12 個月裡，我們以總計 360 億美元的價格回購了 7.34 億股股票。

Over the last 5 years, we have reduced the shares outstanding by almost 25% with nearly 60% of the total reduction this past year in FY '19.

在過去的 5 年裡，我們已將流通股減少了近 25%，佔去年 19 財年總減持量的近 60%。

In addition, we've paid out dividends of $2.9 billion over the last 12 months and the Board of Directors again declared a quarterly dividend of $0.24 per share.

此外，我們在過去 12 個月支付了 29 億美元的股息，董事會再次宣布每股 0.24 美元的季度股息。

Now to the guidance.

現在到指導。

My guidance today is a non-GAAP basis and in constant currency.

我今天的指導是基於非公認會計原則和不變貨幣。

Assuming the current exchange rates remain the same as they are now, currency should have about a 1% negative effect on total revenues and about $0.01 negative effect on EPS.

假設當前匯率保持不變，則貨幣對總收入的負面影響應約為 1%，對每股收益的負面影響約為 0.01 美元。

So for Q1, total revenues are expected to grow between 1% to 3% in constant currency.

因此，對於第一季度，按固定匯率計算，總收入預計將增長 1% 至 3%。

And assuming a 1% currency headwind, total revenues are expected to grow between 0% and 2% in USD.

假設 1% 的貨幣逆風，預計總收入將以美元計算增長 0% 至 2%。

Non-GAAP EPS in constant currency is expected to grow between 14% to 16% and be between $0.81 and $0.83 in constant currency.

按固定匯率計算的非 GAAP 每股收益預計將增長 14% 至 16%，按固定匯率計算將在 0.81 美元至 0.83 美元之間。

And assuming the $0.01 headwind, non-GAAP EPS in USD is expected to grow between 12% and 14% and be between $0.80 and $0.82 in USD.

假設有 0.01 美元的逆風，以美元計算的非 GAAP 每股收益預計將增長 12% 至 14%，以美元計算為 0.80 美元至 0.82 美元。

Now this past year, we grew 3%.

現在，在過去的一年裡，我們增長了 3%。

And for fiscal year 2020, I expect total revenue will grow faster than last year constant currency, of course, and that we will once again report double-digit EPS growth.

對於 2020 財年，我預計總收入的增長速度將快於去年的固定匯率，當然，我們將再次報告兩位數的每股收益增長。

Total CapEx for fiscal year '20 is expected to be about $2.2 billion, but it could move a little depending on our bookings.

20 財年的資本支出總額預計約為 22 億美元，但可能會根據我們的預訂情況略有變動。

My EPS guidance for Q1 and fiscal year '20 assumes our base rate of 20%.

我對第一季度和 20 財年的 EPS 指導假設我們的基本利率為 20%。

However, onetime tax events could cause actual tax rates for any given quarter to vary from our base, both higher or lower.

然而，一次性稅收事件可能導致任何給定季度的實際稅率與我們的基準有所不同，無論是更高還是更低。

But I expect that in normalizing for these onetime tax events, our tax rate will average around 20% for fiscal year 2020.

但我預計，在將這些一次性稅收事件正常化後，我們的稅率在 2020 財年的平均稅率將在 20% 左右。

And with that, I'll turn it over to Mark for his comments.

然後，我將把它轉交給 Mark，徵求他的意見。

Thanks, Safra.

謝謝，薩夫拉。

Really we just had a solid quarter from top to bottom.

真的，我們從上到下都有一個穩定的季度。

Total revenue was up 4% in constant currency with Cloud License and Support up 3% and EPS up 27% in constant currency.

按固定匯率計算，總收入增長 4%，雲許可和支持增長 3%，每股收益按固定匯率增長 27%。

In apps, we had a great momentum.

在應用程序方面，我們勢頭強勁。

We grew 6% for the year.

我們今年增長了 6%。

We're now at $11.5 billion in trailing 12 months' revenue, 92% of that recurs.

我們現在過去 12 個月的收入為 115 億美元，其中 92% 是經常性收入。

We continue to grow revenue faster than market.

我們繼續以比市場更快的速度增長收入。

And we have just an enormous opportunity in front of us in ERP and HCM, and I'll talk to that in a second.

在 ERP 和 HCM 方面，我們面前擺著一個巨大的機會，我稍後會談到這一點。

In SaaS revenue and bookings, let me just give you a few stats to give you some context of what happened.

在 SaaS 收入和預訂方面，讓我給你一些統計數據，讓你了解發生了什麼。

Overall ERP and HCM annualized SaaS revenue is now $2.9 billion or call it $3 billion, and it was up in the high 20s.

ERP 和 HCM 年化 SaaS 總收入現在為 29 億美元或 30 億美元，並且處於 20 多歲的高位。

Fusion apps revenue was plus 36% in Q4 and up 32% for the full year.

Fusion 應用程序收入在第四季度增長了 36%，全年增長了 32%。

Fusion HCM was up 25% in Q4, solid growth with nice wins that I'll discuss again in a second.

Fusion HCM 在第四季度增長了 25%，穩健的增長和不錯的勝利，我將在一秒鐘內再次討論。

Fusion ERP revenue was up 44% and also up 44% for the full year.

Fusion ERP 收入增長了 44%，全年也增長了 44%。

NetSuite ERP was up 28% in Q4 as the strong momentum continues.

隨著強勁勢頭的持續，NetSuite ERP 在第四季度增長了 28%。

They had strong bookings in the quarter.

他們在本季度的預訂量很大。

And I remind you that last Q4, they had 72% growth in bookings.

我提醒您，去年第四季度，他們的預訂量增長了 72%。

In addition, there was a plus 30% growth in bookings this Q4.

此外，第四季度的預訂量增長了 30% 以上。

And that's what drove this revenue growth.

這就是推動收入增長的原因。

And when we acquired NetSuite, we had roughly 15% growth rates, and those have darn near doubled now since the acquisition.

當我們收購 NetSuite 時，我們的增長率大約為 15%，自收購以來，增長率幾乎翻了一番。

In our verticals, revenue was up 19% and 32% for the year.

在我們的垂直領域，全年收入分別增長了 19% 和 32%。

In our Data as a Service, just to give you some further context within our SaaS business, our challenges related to the broader privacy issues continued and revenue was down 15%.

在我們的數據即服務中，為了讓您進一步了解我們的 SaaS 業務，我們與更廣泛的隱私問題相關的挑戰仍在繼續，收入下降了 15%。

Now I'm going to give you an IDC quote that I have to read as-is, so I can't improvise.

現在我要給你一個 IDC 引用，我必須按原樣閱讀，所以我不能即興發揮。

But let me give you the quotes, the words and then the close quotes.

但是讓我給你引述，然後是引述。

"Per IDC's latest annual market share results, Oracle gained the most market share globally out of all enterprise applications SaaS vendors 3 years running, in calendar year '16, '17 and '18." And I can't improvise on that quote, although I'd like to.

“根據 IDC 最新的年度市場份額結果，甲骨文連續 3 年在所有企業應用程序 SaaS 供應商中獲得了全球最大的市場份額，分別是 16 年、17 年和 18 年。”我不能即興引用那句話，儘管我很想這樣做。

So anyway, we just have strong momentum in the app space.

所以無論如何，我們在應用程序領域的勢頭強勁。

I'll talk to you about some of the wins in a second.

稍後我會和你談談一些勝利。

In our infrastructure ecosystem, the GapTech ecosystem was $21.1 billion on a trailing 12 months' basis and Q4 was up 7% with database up mid-single digits, driven by mid-teens database license growth.

在我們的基礎設施生態系統中，GapTech 生態系統在過去 12 個月的基礎上為 211 億美元，第四季度增長了 7%，數據庫增長了中等個位數，這是由十幾歲的數據庫許可增長推動的。

And let me repeat that, mid-teens database license growth.

讓我重複一遍，十幾歲的數據庫許可增長。

Autonomous Database, and I'm telling you, while the numbers helped us in Q4, they were still small.

自治數據庫，我告訴你，雖然這些數字在第四季度幫助了我們，但它們仍然很小。

But the -- if you extrapolate them, they are relatively -- not relatively, they are very significant.

但是——如果你推斷它們，它們是相對的——不是相對的，它們非常重要。

More than 5,000 new trials were added in Q4 alone.

僅在第四季度就增加了 5,000 多個新試驗。

We've got a great pull-through business with 40% of our Q4 wins, so 40% of the time we win on Autonomous Database, we pull through analytics.

我們在第四季度贏得了 40% 的勝利，因此我們有一個偉大的拉通業務，所以我們在自治數據庫上獲勝的 40% 的時間，我們通過分析拉動。

We're adding many new customers.

我們正在增加許多新客戶。

So of all the customers we're adding with Autonomous Database, and you might think we're replacing just our base, which by the way we'd be glad to do, about 20% of our customers are just brand new to Oracle.

因此，在我們使用自治數據庫添加的所有客戶中，您可能認為我們只是在更換我們的基礎，順便說一句，我們很樂意這樣做，我們的客戶中約有 20% 是 Oracle 的全新客戶。

They were not an Oracle Database customer when they bought the Autonomous Database.

他們在購買自治數據庫時還不是 Oracle 數據庫客戶。

And new workloads are 40%, meaning that I'm an Oracle Database customer, but I'm putting a different workload on the Autonomous Database than I had on the Oracle Database.

新工作負載佔 40%，這意味著我是 Oracle 數據庫客戶，但我在自治數據庫上放置的工作負載與在 Oracle 數據庫上放置的工作負載不同。

So we have both new and existing customers doing both.

因此，我們有新客戶和現有客戶都在做這兩件事。

Now to Safra's point, and she hit it briefly, I want to hit it just a little harder.

現在說到 Safra 的觀點，她只是簡單地擊中了它，我想稍微用力地擊中它。

In the key database options that you need to run autonomous, so these being rack and multi-tenant and Active Data Guard if you want the SLA, our license growth was up 21%.

在你需要自主運行的關鍵數據庫選項中，如果你想要 SLA，這些是機架和多租戶以及 Active Data Guard，我們的許可增長了 21%。

So what do you think the market is growing, 2, 3, 3.4, whatever number you think from your favorite analyst, this was a huge share gain customer for us -- or share gain quarter for us in database.

那麼你認為市場在增長，2、3、3.4，無論你從你最喜歡的分析師那裡得到什麼數字，這對我們來說都是一個巨大的份額增長客戶 - 或者我們在數據庫中的份額增長季度。

It was a solid quarter.

這是一個穩定的季度。

We exceeded our revenue target and saw 27% EPS growth.

我們超出了收入目標，每股收益增長了 27%。

Our bookings growth climbed with our renewal rates, meaning our continuing renewal rates of existing customers gives us confidence that our cloud apps business will also just continue to strengthen from here.

我們的預訂增長隨著我們的續訂率而攀升，這意味著我們現有客戶的持續續訂率讓我們相信我們的雲應用程序業務也將從這裡繼續加強。

Now I thought I'd give you just a couple of key wins we had during the quarter.

現在我想我只想告訴你我們在本季度取得的幾場關鍵勝利。

And I'm going to try and give you a little more color of the typical size of the companies we're selling to.

我將嘗試為您提供更多關於我們要出售給的公司的典型規模的顏色。

I might even try and give you a little bit about who we replaced in the deal and give you some rhythm, so you get a feel for all of this.

我什至可能會嘗試給你一些關於我們在交易中替換了誰的信息，並給你一些節奏，這樣你就能對所有這一切有所了解。

Some of our key wins, and I'll focus on some back office wins, Argo Insurance (sic) [Group], about a $2 billion company; Coronado Curragh, a mining company in Australia, $2.3 billion company.

我們的一些關鍵勝利，我將重點關註一些後台勝利，Argo Insurance (sic) [Group]，一家市值約 20 億美元的公司； Coronado Curragh，一家澳大利亞的礦業公司，價值 23 億美元的公司。

Diebold Nixdorf, that's an interesting one, because I used to compete with them when I was at NCR.

Diebold Nixdorf，這很有趣，因為我在 NCR 時曾與他們競爭。

Diebold bought Nixdorf.

迪堡收購了 Nixdorf。

And Diebold was an EBS customer.

Diebold 是 EBS 的客戶。

Nixdorf was an SAP customer.

Nixdorf 是 SAP 的客戶。

They combined the 2, and they will be going to Oracle Cloud ERP.

他們將兩者結合起來，他們將轉向 Oracle 雲 ERP。

The whole Diebold Nixdorf will run on Oracle Cloud ERP.

整個 Diebold Nixdorf 將在 Oracle Cloud ERP 上運行。

NG, out of Brazil, about $1.3 billion, they bought ERP supply chain and procurement, fantastic win for us.

NG，來自巴西，大約 13 億美元，他們購買了 ERP 供應鍊和採購，這對我們來說是一場了不起的勝利。

And they were running on TOTVS, a Brazilian ERP company.

他們在巴西 ERP 公司 TOTVS 上運行。

And so they are net new to Oracle.

因此，它們對 Oracle 來說是全新的。

Exterion, which is a $1 billion company, bought our whole -- really our whole ERP suite, ERP planning, supply chain, procurement.

Exterion 是一家市值 10 億美元的公司，買下了我們的全部——實際上是我們整個 ERP 套件、ERP 規劃、供應鏈、採購。

They did it against a background of basically having a little bit of everything.

他們是在基本上什麼都有一點的背景下做的。

They had a little bit of EBS, a little bit of SAP and a little bit of Microsoft and replaced it all with the Oracle Cloud.

他們有一點 EBS、一點 SAP 和一點微軟，然後用甲骨文云取而代之。

Now this company you may never have heard of, Helmerich & Payne, the reason I've heard of them is their stock symbol on The New York Stock Exchange was HP.

現在您可能從未聽說過這家公司，Helmerich & Payne，我聽說他們的原因是他們在紐約證券交易所的股票代碼是 HP。

And for years, I wanted their stock symbol.

多年來，我一直想要他們的股票代碼。

And they are about a $1.6 billion company.

他們是一家價值 16 億美元的公司。

And while I never got the stock symbol from them, we have replaced Epicor with Oracle Cloud ERP at Helmerich & Payne.

雖然我從未從他們那裡得到股票代碼，但我們已經在 Helmerich & Payne 將 Epicor 替換為 Oracle Cloud ERP。

So anyway, that would just give you some idea on that.

所以無論如何，這只會給你一些想法。

Ferguson, which is one of the largest plumbing wholesale and distribution companies, they're a $21 billion company.

Ferguson 是最大的管道批發和分銷公司之一，他們是一家價值 210 億美元的公司。

They bought ERP, EPM, supply chain, procurement, just a tremendous, tremendous win for us and very looking to partner with them.

他們購買了 ERP、EPM、供應鏈、採購，這對我們來說是一個巨大的勝利，非常希望與他們合作。

Santander in the U.S., another tremendous win for us.

美國的桑坦德銀行，對我們來說又是一次巨大的勝利。

Wright Medical, which was very competitive.

Wright Medical，這是非常有競爭力的。

Emerson Electric, Rutgers University, which has deployed not only all of our financials and ERP, but are deploying our new student scheduling system, which deals with all of commissions and -- not commissions, but grants and discounting, very difficult stuff to deal with in higher ed.

艾默生電氣公司，羅格斯大學，它不僅部署了我們所有的財務和 ERP，而且正在部署我們新的學生排班系統，它處理所有的佣金——不是佣金，而是補助金和折扣，這些都是非常難處理的事情在高等教育中。

So a very key win for us in the quarter.

因此，我們在本季度取得了非常關鍵的勝利。

A great HCM win at Waste Management.

HCM 在廢物管理方面取得了巨大勝利。

Waste Management is a $13 billion company in Houston.

Waste Management 是休斯敦一家市值 130 億美元的公司。

This is HCM, payroll, talent, some amount of ERP.

這是 HCM、工資單、人才和一些 ERP。

Tiffany, I'm sure all of you bought something from Tiffany for some important occasion, Tiffany will be running on our HCM location.

蒂芙尼，我相信你們所有人都在某個重要場合從蒂芙尼買了東西，蒂芙尼將在我們的 HCM 地點運行。

Okay.

好的。

I'm getting a sign to stop here, but it was a very good quarter in terms of just quality logos.

我得到一個停止的標誌，但就質量標誌而言，這是一個非常好的季度。

And I think what I was -- let me just try to do one -- maybe a couple of other things for you just to give you some flavor.

我想我是什麼——讓我試著做一件——也許是其他幾件事情，只是為了給你一些味道。

So we get asked this in Q&A a lot.

所以我們在問答中經常被問到這個問題。

I'm just reading down the list.

我只是在閱讀清單。

And of what I'm looking at is about 150 on my page, I'd say 120 bought more than one module from us.

在我正在查看的頁面中，大約有 150 個，我想說有 120 個從我們這裡購買了不止一個模塊。

And if I read the competitors or the incumbents that got replaced, they start SAP, EBS, EBS, TOTVS, Microsoft, Epicor, Epicor, Infor, Lawson, Infinium, Microsoft, EBS, I mean, I could go on and on.

如果我讀到競爭對手或被取代的現任者，他們會開始 SAP、EBS、EBS、TOTVS、Microsoft、Epicor、Epicor、Infor、Lawson、Infinium、Microsoft、EBS，我的意思是，我可以繼續下去。

But that will give you a flavor that we're getting as many, and I didn't do this accounting exactly, but as many of our logos from outside of the traditional Oracle user base as we are from the Oracle user base.

但這會給你一種感覺，我們得到的數量和我沒有準確計算的一樣多，但我們的徽標來自傳統 Oracle 用戶群之外的數量與我們來自 Oracle 用戶群的數量一樣多。

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

有了這個，我會把它交給拉里。

Thank you, Mark.

謝謝你，馬克。

As Mark said, in Q4, we saw a surge in database license sales.

正如馬克所說，在第四季度，我們看到數據庫許可證銷售量激增。

We also saw very rapid growth in sales of those database options required to run our Autonomous Database.

我們還看到運行我們的自治數據庫所需的那些數據庫選項的銷售增長非常迅速。

We continue to gain overall database market share as we migrate our database users to the cloud.

隨著我們將數據庫用戶遷移到雲端，我們繼續獲得整體數據庫市場份額。

In the quarter, we added over 5,000 new Autonomous Database trials in our Gen 2 public cloud.

本季度，我們在第二代公有云中增加了 5,000 多個新的自治數據庫試驗。

Our new Gen 2 Cloud infrastructure offers customers a compelling array of advanced technology features, including our self-driving database that automatically encrypts all your data, backs itself up, tunes itself, upgrades itself and automatically patches itself when a security threat is detected.

我們新的第 2 代云基礎設施為客戶提供了一系列引人注目的先進技術功能，包括我們的自動駕駛數據庫，它可以自動加密您的所有數據、自我備份、自我調整、自我升級並在檢測到安全威脅時自動修補自我。

It does all of this autonomously, while running without the need for any human intervention and without the need for any downtime.

它自主完成所有這些工作，同時無需任何人為乾預，也無需任何停機時間即可運行。

No other cloud infrastructure provides anything close to these autonomous features.

沒有其他雲基礎設施提供任何接近這些自主功能的東西。

Thank you, Larry.

謝謝你，拉里。

Holly, if we can start with the Q&A portion of the call please.

霍莉，我們能否從電話的問答部分開始。

(Operator Instructions) And our first question comes from the line of Michael Turits, Raymond James.

（操作員說明）我們的第一個問題來自 Michael Turits，Raymond James。

Strong quarter in a lot of ways, and database obviously stood out.

在很多方面表現強勁的季度，數據庫顯然脫穎而出。

But I'd like to ask about the recent Azure partnership.

但我想問一下最近的 Azure 合作夥伴關係。

In general, your strategy has been to make sure that on-premise Oracle workloads move to Oracle Cloud.

通常，您的策略是確保將內部部署的 Oracle 工作負載遷移到 Oracle Cloud。

Does this Azure partnership represent an opening to Oracle workloads running on other clouds?

這種 Azure 合作夥伴關係是否代表對在其他雲上運行的 Oracle 工作負載開放？

Or is it more directed at just getting Azure services integrated with Oracle Cloud workloads?

還是更直接地讓 Azure 服務與 Oracle 雲工作負載集成？

It really is -- most customers have Microsoft technology and Oracle technology.

確實如此——大多數客戶都擁有 Microsoft 技術和 Oracle 技術。

So they might have a Microsoft analytics suite and their data in an Oracle database.

因此，他們可能擁有 Microsoft 分析套件，而他們的數據位於 Oracle 數據庫中。

And we want to make it as easy as possible for you to run those Microsoft analytics in Azure, accessing the Oracle Database in the Oracle Public Cloud.

我們希望讓您盡可能輕鬆地在 Azure 中運行這些 Microsoft 分析，訪問 Oracle 公共雲中的 Oracle 數據庫。

And we built these high-speed interfaces and make -- we made -- we glued the technologies together, but we also have unified the customer experience.

我們構建了這些高速接口，並製作——我們製作了——我們將這些技術粘合在一起，但我們也統一了客戶體驗。

So the customers -- it feels to the customer, like they're working in one cloud, but they have 2 suites of products and technologies they have access to and they can interconnect those things.

所以客戶 - 客戶感覺，就像他們在一個雲中工作，但他們有 2 套他們可以訪問的產品和技術，他們可以將這些東西互連起來。

But no, the Oracle Database is still running in the Oracle Cloud and the Microsoft analytic technology is running in the Microsoft cloud.

但不，Oracle 數據庫仍在 Oracle 雲中運行，而 Microsoft 分析技術仍在 Microsoft 雲中運行。

They are just talking to each other at high speed and highly reliable.

他們只是在高速且高度可靠地相互交談。

Thank you.

謝謝你。

Next question, please.

請下一個問題。

Our next question will come from the line of Mark Moerdler, Bernstein Research.

我們的下一個問題將來自 Bernstein Research 的 Mark Moerdler。

Congrats on the strong quarter.

祝賀強勁的季度。

I'd like to focus my question on the database business and especially Autonomous Database.

我想把我的問題集中在數據庫業務上，尤其是自治數據庫上。

Mark, Safra, thanks for the data you gave on autonomous on the call, but can you give us some more color on how we should think about the database biz revenue going forward?

Mark，Safra，感謝你在電話會議上提供的關於自主的數據，但你能給我們更多關於我們應該如何考慮未來數據庫業務收入的顏色嗎？

Is autonomous adoption hitting the stride, so we can visibly see it in license revenue on a quarter-by-quarter basis?

自主採用是否取得了長足的進步，因此我們可以在每個季度的許可收入中明顯看到它？

And what's this impact going forward on cloud (inaudible) ?

這對雲的影響是什麼（聽不清）？

Okay.

好的。

Let me give you what I think is maybe the most interesting thing we can say about this.

讓我告訴你我認為可能是我們可以說的最有趣的事情。

We have 2 ways of forecasting our Autonomous Database business.

我們有 2 種方法來預測我們的自治數據庫業務。

One is the traditional way, where the field comes out with quarterly forecasts, we put together annual plans.

一種是傳統方式，該領域提出季度預測，我們制定年度計劃。

And that's in fact what we relied upon for years in terms of giving you guidance.

事實上，這正是我們多年來為您提供指導所依賴的。

But now that we're in the cloud business, we have some interesting additional data, not around field sales, if you will, bookings for selling our cloud services and our technology, but rather we have real data about consumption inside of our cloud.

但是現在我們在雲業務中，我們有一些有趣的額外數據，不是現場銷售，如果你願意，預訂銷售我們的雲服務和我們的技術，而是我們有關於我們雲內部消費的真實數據。

And we started collecting the consumption data, because to add capacity to the cloud -- Safra said, depending on bookings, we might have to spend more money.

我們開始收集消費數據，因為要增加雲容量——Safra 說，根據預訂情況，我們可能不得不花更多的錢。

Let me be a little bit more precise.

讓我更準確一點。

It's not even bookings that drive it.

驅動它的甚至不是預訂。

Bookings that lead to increased consumption triggers our just-in-time provisioning of our hardware into our public clouds.

導致消費增加的預訂會觸發我們將硬件及時配置到我們的公共雲中。

And right now, we're getting signals from our usage in our Gen 2 Cloud that is signaling much faster Autonomous Database growth than we're seeing from our sales forecast.

現在，我們從我們在第二代云中的使用中得到信號，這表明自治數據庫的增長速度比我們從銷售預測中看到的要快得多。

It's just kind of interesting, but encouraging.

這有點有趣，但令人鼓舞。

And our next question is going to come from the line of Brad Zelnick, Crédit Suisse.

我們的下一個問題將來自 Crédit Suisse 的 Brad Zelnick。

It's great seeing the business accelerating like this.

很高興看到業務像這樣加速發展。

My question is for Larry.

我的問題是給拉里的。

Larry, it's so nice to see the early success in Autonomous Database and demand for database options.

Larry，很高興看到自治數據庫的早期成功以及對數據庫選項的需求。

But as we think about the long-term prospects of the database business, in years past, a lot of your success was tied to the ISV ecosystem, and it would seem the future is increasingly about embracing software developers.

但當我們考慮數據庫業務的長期前景時，在過去的幾年裡，你的很多成功都與 ISV 生態系統有關，而且未來似乎越來越多地與軟件開發人員合作。

First, would you agree with that statement?

首先，你同意這種說法嗎？

And how do you see Oracle attracting developers to your database and OCI more broadly?

您如何看待 Oracle 更廣泛地吸引開發人員使用您的數據庫和 OCI？

Well, I think you're saying the same thing.

好吧，我想你說的是同一件事。

Why is it attractive to -- why is it good to attract developers, because developers write applications and the most important applications are ISV applications, which are used across the board.

為什麼它有吸引力——為什麼它對開發人員有好處，因為開發人員編寫應用程序，最重要的應用程序是 ISV 應用程序，它們被廣泛使用。

So I don't think anything has changed at all.

所以我認為根本沒有任何改變。

Developers were always, if you will, the foundation of our business.

如果您願意，開發人員始終是我們業務的基礎。

We have over 1 million developers in our ecosystem already.

我們的生態系統中已經有超過 100 萬開發人員。

And most ISVs, most of the current ISVs in the cloud use the Oracle Database.

而大多數 ISV，目前大多數雲中的 ISV 都使用 Oracle 數據庫。

I mean, everything the Salesforce.com runs pretty much is running on the Oracle Database.

我的意思是，Salesforce.com 運行的所有內容幾乎都在 Oracle 數據庫上運行。

Everything that SAP acquired to run in the cloud runs on the Oracle Database.

SAP 為在雲中運行而獲得的一切都在 Oracle 數據庫上運行。

Now I know SAP said they're going to move to HANA, but they said that 6 years ago, haven't quite gotten there yet.

現在我知道 SAP 說他們要遷移到 HANA，但他們在 6 年前就說過，還沒有完全實現。

Anyway, the -- we go after developers -- and in fact, yesterday, we were putting the finishing touches of a program we're going to be announcing to developers at Oracle OpenWorld, which is basically free services to developers, forever, if you will.

無論如何，我們追求開發人員 - 事實上，昨天，我們正在對我們將在 Oracle OpenWorld 上向開發人員宣布的計劃進行最後的潤色，這基本上是對開發人員的永久免費服務，如果你會。

So developers and college entrepreneurs can -- this is free service.

所以開發人員和大學企業家可以——這是免費服務。

We'll be able to provide this free service that will let developers to start on the Oracle Cloud, build their applications and graduate from being maybe a solo entrepreneur some place in a dorm in MIT to eventually being an entrepreneur starting a company and then becoming an ISV.

我們將能夠提供這項免費服務，讓開發人員可以在 Oracle 雲上開始，構建他們的應用程序，並從可能成為麻省理工學院宿舍某個地方的獨立企業家畢業，最終成為一名創辦公司的企業家，然後成為獨立軟件開發商。

That's the cycle we want to sign up people early, and we have all sorts of cloud programs we're putting in place to be able to do that.

這就是我們希望儘早註冊人員的周期，我們正在實施各種雲計劃來實現這一目標。

Thank you.

謝謝你。

Next question please.

請下一個問題。

Our next question will come from the line of John DiFucci, Jefferies.

我們的下一個問題將來自 Jefferies 的 John DiFucci。

I'm going to follow up with another database.

我將跟進另一個數據庫。

I know apps was good too, but I can't help myself, have been waiting for this.

我知道應用程序也很好，但我情不自禁，一直在等待這個。

Maybe...

可能是...

Us too.

我們也是。

We've been working for this for a long time, and it's great to see it's just begin to show up in the numbers.

我們為此努力了很長時間，很高興看到它剛剛開始出現在數字中。

It is.

這是。

And the timing is kind of odd, Larry, because many infrastructure companies this quarter have struggled lately.

拉里，時機有點奇怪，因為本季度許多基礎設施公司最近都在苦苦掙扎。

And as you probably know, the logical conclusion from the investment community was that we'd see some relative weakness out of Oracle.

正如您可能知道的那樣，投資界的合乎邏輯的結論是我們會看到 Oracle 的一些相對弱點。

But your constant currency infrastructure growth was better than it's been in -- I mean since you've been doing this, like over the last -- I went back looking back to fiscal '16.

但是你持續的貨幣基礎設施增長比以往任何時候都好——我的意思是因為你一直在這樣做，就像上次一樣——我回顧了 16 財年。

And in this quarter, the constant currency growth was better than it's been since -- over that time period.

在本季度，持續的貨幣增長比從那以後的那個時期要好。

I guess, Larry, you mentioned the options, and that's something we've been sort of waiting for and looking for.

我想，拉里，你提到了選項，這是我們一直在等待和尋找的東西。

I guess, can you give a little more detail on that?

我想，你能提供更多細節嗎？

And then maybe even more generally, maybe Mark, if you can give us some detail on comments on the general broad-based infrastructure IT demand out there?

然後可能更一般地，也許馬克，如果你能給我們一些關於那裡的一般廣泛基礎設施 IT 需求的評論的詳細信息？

We're not -- we don't just cover Oracle, right?

我們不是——我們不只是報導 Oracle，對吧？

We're just trying to figure out what's going on out there.

我們只是想弄清楚外面發生了什麼。

Okay.

好的。

So let me -- there are 2 options that I think Mark mentioned them that are absolutely required to use Autonomous Database.

所以讓我——我認為 Mark 提到了 2 個選項，它們是使用自治數據庫絕對必需的。

One is the multi-tenancy option.

一種是多租戶選項。

This is the one where you can take an existing application, it could be an ISV, you could take an existing application that was never built to be multi-tenant, you move it to the Oracle Database, you don't change a thing and you suddenly have a multi-tenant database.

這是一個你可以使用現有應用程序的地方，它可以是 ISV，你可以使用一個從未構建為多租戶的現有應用程序，你將它移動到 Oracle 數據庫，你不需要改變任何東西並且你突然有了一個多租戶數據庫。

So that's one thing that's required for Autonomous Database.

所以這是自治數據庫所需要的一件事。

The other thing is this real application clustering.

另一件事是這個真正的應用程序集群。

Real application clustering refers to the fact that we use multiple computers to run every database instances.

真正的應用程序集群是指我們使用多台計算機來運行每個數據庫實例。

So in case one of those computers should fail, there's -- our systems are fault tolerant, they keep running.

因此，如果其中一台計算機出現故障，我們的系統是容錯的，它們會繼續運行。

So the Autonomous Database never breaks.

所以自治數據庫永遠不會中斷。

Let me say that again, never breaks.

讓我再說一遍，永不中斷。

Ladies and gentlemen, stand by.

女士們，先生們，待命。

And our next question is going to come from the line of Heather Bellini, Goldman Sachs.

我們的下一個問題將來自高盛的 Heather Bellini。

Heather, can you hold on for a moment.

希瑟，你能等一下嗎？

Heather, can you hear me okay?

希瑟，你能聽到我說話嗎？

I apologize everybody.

我向大家道歉。

Larry, what'd you like to do?

拉里，你想做什麼？

Would you like to continue on or...

你想繼續還是...

Yes.

是的。

I would like to answer the question.

我想回答這個問題。

John, did you get any of Larry's answers?

約翰，你得到拉里的任何答案了嗎？

John we'll get you back on the line and we'll kind of figure out -- apologies for these logistics.

約翰，我們會讓你重新接聽電話，我們會想辦法——為這些後勤工作道歉。

We were talking about the options.

我們正在談論選項。

So let me -- I'm sorry.

所以讓我——我很抱歉。

And I'll cycle back and repeat my answer.

我會循環回去並重複我的回答。

So the answer, there are 2 options required for Autonomous Database.

所以答案是，自治數據庫需要 2 個選項。

One is the multi-tenancy option, and that allows, let's say, an existing ISV to take an application that was never meant for the cloud, move it to our Autonomous Database with the multi-tenancy option, and suddenly, without changing their application, their application becomes a multi-tenant cloud application.

一個是多租戶選項，比方說，它允許現有的 ISV 將一個從未用於雲的應用程序，通過多租戶選項將其移動到我們的自治數據庫，並且突然間，無需更改他們的應用程序，他們的應用程序變成了多租戶雲應用程序。

That's one key feature and we've seen sales of that skyrocket.

這是一個關鍵功能，我們已經看到了它的銷量猛增。

The other key feature of Autonomous Database that's required to use Autonomous Database is this feature called rack.

使用自治數據庫所需的自治數據庫的另一個關鍵特性是稱為機架的特性。

Rack is the ability to use multiple computers to run a single application or a single database instance.

Rack 是使用多台計算機運行單個應用程序或單個數據庫實例的能力。

So in case one of those computers should fail, we tolerate that failure and the application keeps running, because we have multiple computers.

因此，如果其中一台計算機發生故障，我們可以容忍該故障並且應用程序繼續運行，因為我們有多台計算機。

You might have one.

你可能有一個。

You might have 2, 3, 4. But you lose 1 or 2, you still have 2, 3, 4 left, whatever you -- however you configure the system.

你可能有 2、3、4。但你失去了 1 或 2，你仍然有 2、3、4，無論你如何配置系統。

We will only configure Autonomous Database with multiple computers.

我們只會用多台計算機配置自治數據庫。

Autonomous Database never fails.

自治數據庫永遠不會失敗。

You must have the rack option to ensure that.

您必須具有機架選項以確保這一點。

Rack options are growing more rapidly than you would expect, being driven again by consumption of the Autonomous Database.

機架選項的增長速度比您預期的要快，這再次受到自治數據庫消耗的推動。

So we're seeing very, very rapid adoption.

所以我們看到非常非常快速的採用。

In fact, it's -- and another thing -- to add a little color to this, initial transaction, a lot of our existing customers might come on with a very small project, let's say, a $30,000 ARR project.

事實上，這是 - 另一件事 - 為這個初始交易添加一點顏色，我們的許多現有客戶可能會進行一個非常小的項目，比方說，一個 30,000 美元的 ARR 項目。

And within 60, 90, 120 days, that becomes $120,000 project.

在 60、90、120 天之內，這個項目就變成了 120,000 美元的項目。

And after another few months, it becomes $0.5 million project.

又過了幾個月，它變成了 50 萬美元的項目。

So we're really optimistic about this business.

所以我們真的很看好這項業務。

And the optimism -- and I'm just back to what I said earlier, the optimism was not in Safra's guidance, which is based on sales forecast.

樂觀情緒——我剛剛回到我之前所說的，樂觀情緒不在 Safra 的指導中，它基於銷售預測。

The thing that I find fascinating are the consumption data curves, which shows our consumption rate growing much faster than the fields currently anticipating.

我覺得有趣的是消費數據曲線，它顯示我們的消費率增長速度比目前預期的領域快得多。

To me, that's just wonderfully encouraging, and hopefully, this is the beginning of the trend.

對我來說，這非常令人鼓舞，希望這是趨勢的開始。

We'll find out soon.

我們很快就會知道。

Okay, Holly, if we could now move ...

好吧，霍莉，如果我們現在可以移動......

I think Mark had a follow on.

我認為馬克有後續行動。

Didn't you have a question for Mark as well?

你沒有問題要問 Mark 嗎？

I did.

我做到了。

Just a general demand.

只是一個普遍的需求。

Can you hear me?

你能聽到我嗎？

Yes.

是的。

We can hear you, John.

我們能聽到你的聲音，約翰。

Okay.

好的。

Yes.

是的。

It was just -- we're seeing a lot of funky stuff out there for infrastructure software.

只是——我們看到了很多用於基礎設施軟件的時髦東西。

And I'm just wondering -- I mean you guys just have a broad customer base.

我只是想知道——我的意思是你們有廣泛的客戶群。

Just like wondering what you're seeing in general?

就像想知道你一般看到了什麼？

Are you seeing any -- I mean your business was strong, but there's a lot of companies that have struggled recently.

你有沒有看到 - 我的意思是你的業務很強大，但最近有很多公司都在苦苦掙扎。

Are you seeing anything, any changes out there for infrastructure demand in general beyond Oracle even?

您是否看到任何超出 Oracle 的基礎設施需求的變化？

Yes.

是的。

I mean we have new hot products.

我的意思是我們有新的熱門產品。

I mean that's the difference.

我的意思是這就是區別。

I think that again, I won't speak to everybody, but when you go out with the Autonomous Database, Larry talked about a lot of different factors, but from a business perspective, we very rarely had a product that we can go talk to somebody at a senior level and say how would you like to get more secure, save money and get better performance all at the same time.

我想再一次，我不會和每個人說話，但是當你和自治數據庫一起出去的時候，拉里談到了很多不同的因素，但是從商業的角度來看，我們很少有可以與之交談的產品某個高級級別的人說您希望如何同時獲得更安全、節省資金和獲得更好的性能。

How would you like to outsource the security detection and patchings responsibilities to somebody who does this for a living, so you never have to read the name of your company above the fold on the front page talking about how much data you just lost.

您是否願意將安全檢測和修補職責外包給以此為生的人，這樣您就不必在首頁的首屏閱讀您公司的名稱，談論您剛剛丟失了多少數據。

All right.

好的。

So we expect -- yes, I'm going to let Mark talk.

所以我們期待——是的，我會讓馬克發言。

I'm sorry.

對不起。

Well, this is a really simple message.

好吧，這是一個非常簡單的信息。

This is different from saying, we've got a new partitioning.

這不同於說，我們有一個新的分區。

It's just a very different approach for us.

這對我們來說只是一種非常不同的方法。

And so we've got new products.

所以我們有了新產品。

You know about the strengths, John, you mentioned in cloud apps.

你知道你在雲應用程序中提到的優勢，約翰。

And we benefit from a set of competitors that are in different stages of maturation, most of which are weak.

我們受益於一系列處於不同成熟階段的競爭對手，其中大多數都很弱。

And we've got great products and what we are just now bringing out in Autonomous Database.

我們有很棒的產品以及我們剛剛在自治數據庫中推出的產品。

And so I think that's a bit different just in terms of the various product cycle that we're in versus what other people might be in.

因此，我認為就我們所處的各種產品週期與其他人可能所處的產品週期而言，這有點不同。

Yes.

是的。

Let me then close with -- I couldn't agree more with Mark.

然後讓我結束——我完全同意馬克的觀點。

Our really good hot new products like Autonomous Database, Fusion, cloud application suite, NetSuite are selling really well.

我們非常好的熱門新產品，如 Autonomous Database、Fusion、雲應用程序套件、NetSuite 賣得非常好。

In fact, they are accelerating.

事實上，他們正在加速。

They're doing extremely well.

他們做得非常好。

Quite frankly, we have some other product lines that we're quite naturally downsizing like some of the acquired Sun hardware, there are some older on-premise software products that aren't really doing well.

坦率地說，我們還有一些其他產品線，我們很自然地會縮減規模，比如一些收購的 Sun 硬件，還有一些舊的內部部署軟件產品表現不佳。

Mark mentioned data cloud because of all the privacy issues.

馬克提到數據云是因為所有的隱私問題。

So yes, there are some of our businesses that are not, if you will, hot.

所以是的，如果你願意的話，我們的一些業務並不熱門。

But the good news is the hot businesses are now bigger than the not-so-hot businesses and that's determining our future.

但好消息是，熱門業務現在比不那麼熱門的業務規模更大，這決定了我們的未來。

By the way, what Larry said is right, I think it's worth noting.

順便說一下，Larry 說的很對，我覺得值得注意。

Our SPARC business declined 24%, 25% this quarter.

我們的 SPARC 業務本季度下降了 24%、25%。

Our NetSuite business grew, as we described, in the high 20s.

正如我們所描述的那樣，我們的 NetSuite 業務在 20 多歲時增長。

And they don't cancel out.

他們不會抵消。

NetSuite is now bigger.

NetSuite 現在更大了。

But when we look at the aggregate growth rate of the company, it's made up of negative 25s and plus 27s, like what I just described.

但是當我們看公司的總增長率時，它是由負 25 和正 27 組成的，就像我剛才描述的那樣。

And so it does create the phenomenon that Larry described.

所以它確實造成了拉里描述的現象。

Again, it looked like -- and I swear this will be the last part of the answer to your question.

同樣，它看起來像——我發誓這將是您問題答案的最後一部分。

The -- it does look like the top line is moving up modestly.

- 看起來頂線確實在適度上升。

But underneath that, there is really a lot of activity.

但在那之下，確實有很多活動。

You have these very -- these modern businesses like Autonomous Database, Fusion, NetSuite growing very rapidly, taking share, clear #1s in the overall marketplace.

你有這些非常——這些現代企業，如自治數據庫、Fusion、NetSuite 增長非常迅速，在整個市場中佔據份額，明確排名第一。

(inaudible) is dominant #1 in cloud ERP.

（聽不清）在雲 ERP 中占主導地位 #1。

And you have these other businesses that are melting away and we just don't care.

而且您還有其他正在消失的業務，我們根本不在乎。

We're focused on our star products, and our star products are now driving our top line higher.

我們專注於我們的明星產品，我們的明星產品現在正在推動我們的收入更高。

And our next question will come from Heather Bellini, Goldman Sachs.

我們的下一個問題將來自高盛的 Heather Bellini。

Okay.

好的。

So I guess, I should spend a little bit of time on the app segment, given everyone has been focusing on the infrastructure segment so far.

所以我想，我應該花一點時間在應用程序部分，因為到目前為止每個人都專注於基礎設施部分。

It obviously looks like that was another strong quarter there.

顯然，那是另一個強勁的季度。

I was wondering, Mark, if you could share with us in terms of how the SaaS business is performing, if you could look out next year -- I mean, you had tougher comps in the fiscal year that just ended, right, as the anniversary of NetSuite went on.

我想知道，馬克，你是否可以與我們分享 SaaS 業務的表現，如果你可以展望明年 - 我的意思是，你在剛剛結束的財政年度有更嚴格的補償，對，因為NetSuite 週年紀念日還在繼續。

When you think about the type of acceleration we can see, can you walk us through kind of the puts and takes in terms of the types of acceleration we might be able to see in that business?

當您考慮我們可以看到的加速類型時，您能否根據我們可能在該業務中看到的加速類型來引導我們了解看跌期權和獲取？

And also I wanted to ask you, I mean, SAP is going through where they are trying to get customers to replatform.

我還想問你，我的意思是，SAP 正在經歷他們試圖讓客戶重新平台化的過程。

How much of an opportunity is that for you to go and potentially win back some of those customers or to win some of those customers for the first time?

您有多少機會去贏回其中一些客戶或首次贏得其中一些客戶？

So wondering kind of the competitive environment, I guess, between Workday and SAP and how you're seeing that play out given some of the announcements from SAP?

因此，我想知道 Workday 和 SAP 之間的競爭環境，以及根據 SAP 的一些公告，您如何看待這種競爭環境？

Okay.

好的。

Well, that question would take me like an hour to get.

好吧，這個問題需要我一個小時才能搞定。

How about the abridged version?

精簡版怎麼樣？

The abridged version.

精簡版。

I think, to your point, SAP is forcing all their customers to a new platform by beginning of 2025.

我認為，就你的觀點而言，SAP 正在迫使他們的所有客戶在 2025 年初之前使用一個新平台。

That forces all their customers to move and all the changes, not just the changes they've just made, but all the changes they made to the code have to be remade to the code.

這迫使他們所有的客戶搬家，所有的更改，不僅僅是他們剛剛所做的更改，而且他們對代碼所做的所有更改都必須重新對代碼進行。

And what that means is they have to roll up a big new bill to move to this thing Larry called earlier, HANA.

這意味著他們必須推出一項新的大法案才能轉向拉里早些時候稱之為 HANA 的東西。

And it's a big damn bill.

這是一個該死的大賬單。

And so the poor CIO or CFO, whoever this guy is, has to show up to the Board and says to the Board of Directors, we've got a $500 million bill to move to HANA.

因此，可憐的 CIO 或 CFO，無論這個人是誰，都必須出現在董事會面前，並對董事會說，我們有 5 億美元的賬單要轉移到 HANA。

And you all on the phone are smart.

電話裡的你們都很聰明。

My guess is the Board members says something clever like what's HANA.

我的猜測是董事會成員說了一些聰明的話，比如什麼是 HANA。

And the guy goes, well, it's a platform.

那傢伙說，嗯，這是一個平台。

And the guy goes, well, what's a platform?

那傢伙說，嗯，什麼是平台？

And he goes, well, it's a new thing we run our ERP on.

他說，嗯，這是我們運行 ERP 的新事物。

The guy goes, oh, okay.

那傢伙走了，哦，好吧。

And it costs $500 million?

它耗資5億美元？

And the guy goes, oh, yes.

那傢伙說，哦，是的。

And he goes what do we get for it?

他走了我們能得到什麼？

And he goes, well, we get some new plumbing and we get some new this.

他走了，好吧，我們得到了一些新的管道，我們得到了一些新的。

I just think that meeting goes very badly.

我只是覺得那次會議進行得很糟糕。

And somewhere in the meeting, the customer goes who else have you talked to?

在會議的某個地方，客戶走了，你還和誰談過？

Do we have an alternative?

我們有其他選擇嗎？

Could we not do it?

我們可以不這樣做嗎？

Could we go with somebody else?

我們可以和別人一起去嗎？

So yes, I mean, I think it's an incredibly interesting strategy on their part to put all their customers at play.

所以，是的，我的意思是，我認為他們讓所有客戶都參與其中是一個非常有趣的策略。

Do we get calls from customers that we haven't been called or talked to in 20 years?

我們是否接到過 20 年未曾聯繫或交談過的客戶打來的電話？

The answer is yes.

答案是肯定的。

And is it because -- and remember, Heather, you know this that when we sold to customers 15 years ago, they never really talked to SAP after that and vice versa, because you're expected to stay with these ERP systems forever.

是不是因為 - 記住，Heather，你知道這一點，當我們 15 年前向客戶銷售產品時，他們之後從未真正與 SAP 交談過，反之亦然，因為你應該永遠使用這些 ERP 系統。

So yes, some percent of their base will move as a result of just this, because it's a lot of money for not getting much, real simple.

所以是的，他們的一部分人會因為這個而移動，因為沒有得到太多錢是很多錢，真的很簡單。

And the rest of the...

剩下的...

Anything on Workday?

工作日有事嗎？

I thing Workday does -- again, my sense of Workday is they do a decent job in upmarket HCM where they can divorce the HCM buyer from the ERP buyer.

我認為 Workday 確實如此——再次強調，我對 Workday 的感覺是他們在高端 HCM 領域做得不錯，他們可以將 HCM 買家與 ERP 買家分開。

When the ERP buyer and the HCM buyer are aligned and combined, they're really in a position with no chance, because they don't have much of a financials product.

當 ERP 買家和 HCM 買家聯合起來時，他們實際上沒有機會，因為他們沒有太多的金融產品。

And I know they hyped it and they talk about it and all that, but at the end of the day, they're just not competitive.

而且我知道他們大肆宣傳，他們談論它等等，但在一天結束時，他們就是沒有競爭力。

So for us, the market really is for us to keep moving ahead.

所以對我們來說，市場真的是讓我們繼續前進。

It's a lot -- I don't know what our market share must be in cloud financials now, but it must be plus 90%, 92%, 93%, 94%.

很多——我不知道我們現在在雲金融領域的市場份額一定是多少，但肯定是 90%、92%、93%、94% 以上。

So yes, do I think we can accelerate?

所以是的，我認為我們可以加速嗎？

I think the greatest story you can see here is the NetSuite story that we doubled the rate.

我認為您在這裡可以看到的最偉大的故事是我們將速度提高了一倍的 NetSuite 故事。

And if I didn't say enough things about NetSuite, because I'm sure the NetSuite team is listening.

如果我對 NetSuite 說得不夠多，因為我確信 NetSuite 團隊正在傾聽。

Let me say, NetSuite, NetSuite, NetSuite.

讓我說，NetSuite，NetSuite，NetSuite。

They have just done a fabulous job and they are doing a fabulous job not just growing internationally, but growing domestically.

他們剛剛做了一件了不起的工作，他們正在做一件了不起的工作，不僅在國際上發展，而且在國內也在發展。

A lot of this performance in NetSuite is just pure U.S. domestic performance, more salespeople, more industries, micro industries that we build for, better execution.

NetSuite 的很多這種表現只是純粹的美國國內表現，更多的銷售人員，更多的行業，我們為之建立的微型行業，更好的執行。

And so between NetSuite and Fusion, we've just had a really good run.

因此，在 NetSuite 和 Fusion 之間，我們的表現非常出色。

I won't tell you everything is perfect, which is really good news.

我不會告訴你一切都是完美的，這真是個好消息。

With these numbers, we can do better.

有了這些數字，我們可以做得更好。

We can do better.

我們可以做得更好。

And I think we're just getting our stride.

我認為我們才剛剛邁出大步。

So I feel very good about it, Heather.

所以我感覺很好，希瑟。

And as Fusion becomes a higher percentage, Fusion ERP is growing so quickly and it becomes a bigger percentage, it just kind of overwhelms everything else.

隨著 Fusion 的百分比越來越高，Fusion ERP 增長如此之快，而且它的百分比越來越大，它只是壓倒了其他一切。

Yes that's the mix change.

是的，這就是混音變化。

I mean that's what you're seeing really in this quarter is the beginning of the fact that our hot rapidly growing products are now bigger than some of those products, again, like Sun SPARC that are in decline.

我的意思是，這就是您在本季度真正看到的事實的開始，即我們快速增長的熱門產品現在比其中一些產品更大，再次，例如正在下降的 Sun SPARC。

And we kind of cross -- those 2 curves have crossed one another.

我們有點交叉——那兩條曲線已經相互交叉了。

Fusion is an international product in a lot of countries.

Fusion 是許多國家/地區的國際產品。

And now we've moved NetSuite to a lot of countries.

現在我們已經將 NetSuite 轉移到許多國家/地區。

And quite frankly, we haven't really started to get the benefit of that just yet.

坦率地說，我們還沒有真正開始從中受益。

So that's going to kick in this fiscal year and that will have a big impact.

因此，這將在本財年開始，並將產生重大影響。

Our next question is going to come from the line of Phil Winslow, Wells Fargo.

我們的下一個問題將來自富國銀行的 Phil Winslow。

Congrats on a great finish to the year.

祝賀今年取得圓滿成功。

A lot of time has been spent on platform and applications.

在平台和應用程序上花費了大量時間。

I wanted to focus on infrastructure and hope you can give us an update on just what you're seeing on the Oracle Cloud Infrastructure too.

我想專注於基礎設施，希望您也能向我們介紹您在 Oracle 雲基礎設施上看到的最新情況。

What's the feedback from customers?

客戶的反饋如何？

How do we think about sort of where we are in the adoption life cycle?

我們如何考慮我們在採用生命週期中所處的位置？

And then one question I get from investors is how should we think about OCI 2 relative to the announcement with Microsoft, if there is any sort of impact there?

然後我從投資者那裡得到的一個問題是，我們應該如何考慮 OCI 2 相對於微軟的公告，如果那裡有任何影響？

Well, OCI 2, we have 2 infrastructure products.

嗯，OCI 2，我們有 2 種基礎設施產品。

We had what we now call OCI Classic, which really is frozen and we're moving all of our customers -- almost moved all of our customers to our Gen 2 Cloud.

我們擁有現在稱為 OCI Classic 的東西，它真的被凍結了，我們正在轉移我們所有的客戶——幾乎將我們所有的客戶轉移到我們的第二代云。

Our Gen 2 Cloud is dramatically better, I think, not only than our Gen 1 Cloud, but other people's, the existing clouds.

我認為，我們的 Gen 2 Cloud 不僅比我們的 Gen 1 Cloud 好得多，而且比其他人的現有云好得多。

We have -- without going through a lot on this, we have an architecture where we have 2 separate computers in each computer that you rent, if you will.

我們已經 - 沒有經過太多討論，我們有一個架構，如果您願意的話，我們在您租用的每台計算機中都有 2 台獨立的計算機。

And we have the Intel computer that you rent and then we have another processor with separate memory that has all of our cloud control code.

我們有您租用的英特爾計算機，然後我們有另一個帶有獨立內存的處理器，其中包含我們所有的雲控制代碼。

So that's very different than Amazon or Google or Azure as an architecture.

因此，這與亞馬遜、谷歌或 Azure 作為架構非常不同。

That's true with every single computer in our Gen 2 Cloud is really 2 computers, the one that the customer uses and another one that we use to manage the cloud and encrypt the data and encapsulate the messaging and virtualize the messaging and do all of that.

我們的 Gen 2 Cloud 中的每台計算機都是 2 台計算機，一台供客戶使用，另一台我們用來管理雲、加密數據、封裝消息傳遞和虛擬化消息傳遞，並執行所有這些操作。

The -- it's impossible for a cloud customer to get at our code and hack it.

雲客戶不可能獲取我們的代碼並對其進行破解。

And it's also impossible for our programmers to look at our customers' data.

而且我們的程序員也不可能看我們客戶的數據。

So we did this.

所以我們這樣做了。

We redid our architecture, because we decided that existing architectures, infrastructure architectures had just too many vulnerabilities.

我們重新設計了我們的架構，因為我們認為現有架構、基礎設施架構存在太多漏洞。

And so we bit the bullet, said, okay, we're going to freeze OCI Classic, we're going to invest in Gen 2 that gives us this much more secure, much more reliable platform.

所以我們硬著頭皮說，好吧，我們將凍結 OCI Classic，我們將投資於 Gen 2，它為我們提供了這個更安全、更可靠的平台。

And in fact, it'll be much faster.

事實上，它會快得多。

It's also much faster.

它也快得多。

We have much faster networking, I'm not going into all of that.

我們有更快的網絡，我不打算討論所有這些。

But this is a huge differentiator between us and everybody else.

但這是我們和其他人之間的巨大區別。

And customers are beginning to see that.

客戶開始看到這一點。

They are beginning to understand the architectural differences.

他們開始了解架構差異。

A lot of the world security agencies are now coming to us and saying, hey, this looks really good, we're going to go with this, not Amazon or somebody else because of these architectural distinctions.

世界上很多安全機構現在都來找我們說，嘿，這看起來真的很好，我們將採用它，而不是亞馬遜或其他公司，因為這些架構上的區別。

Also, a bunch of people are running high-performance workloads on our cloud.

此外，一群人正在我們的雲上運行高性能工作負載。

We have a much fancier network.

我們有一個更高級的網絡。

We have RDMA capability built into our network that the other guys don't have.

我們在我們的網絡中內置了其他人沒有的 RDMA 功能。

That's because we redid that.

那是因為我們重做了那個。

We didn't have it in Gen 1, we have it in Gen 2. It allows us to run large machine learning workloads, rendering, simulations, all sorts of high-performance computing way better than our competitors.

我們在第 1 代中沒有它，我們在第 2 代中有它。它使我們能夠以比競爭對手更好的方式運行大型機器學習工作負載、渲染、模擬和各種高性能計算。

So there are a bunch of applications we just do better and people are beginning to notice and they are beginning to move and buy.

所以有很多應用程序我們做得更好，人們開始注意到他們開始移動和購買。

And our final question for today comes from Raimo Lenschow, Barclays.

我們今天的最後一個問題來自巴克萊銀行的 Raimo Lenschow。

I wanted to go back to NetSuite strength, Mark, and you talked already a lot about it in terms of geographic and going deep into industry.

我想回到 NetSuite 的優勢，馬克，你已經在地理和深入行業方面談了很多。

But I just wanted to see like how sustainable is that?

但我只是想看看這有多可持續？

So where are we in that innings in terms of going against certain countries or going against certain industries?

那麼，就反對某些國家或反對某些行業而言，我們在那一局中處於什麼位置？

Like is that kind of where the initial investment is coming through now and then we are done?

就像那種初始投資現在通過的地方，然後我們就完成了嗎？

Or are we on the beginning of a journey here?

或者我們正處於旅程的開始？

First, Raimo, I think one thing that I'll add to Larry's Gen 2 point is customers love Gen 2. And it's got a great thing, it works really well.

首先，Raimo，我認為我要添加到 Larry 的 Gen 2 觀點中的一件事是客戶喜歡 Gen 2。它有一件很棒的事情，它運作得非常好。

It's reliable.

這是可靠的。

It scales.

它可以縮放。

We're hiring people in our engineering group, continuing to expand.

我們正在招聘工程團隊的人員，並繼續擴大規模。

And so just to add to Phil's point, I mean, it is very well received by our sales force, our field and it's been fantastic.

因此，為了補充 Phil 的觀點，我的意思是，我們的銷售人員和我們的領域都非常歡迎它，這太棒了。

On NetSuite, yes, we're just at the beginning.

在 NetSuite 上，是的，我們才剛剛開始。

To Larry's point, we really haven't seen the acceleration internationally that we've seen domestically.

就拉里的觀點而言，我們確實沒有看到我們在國內看到的國際加速。

So we are adding salespeople internationally.

所以我們正在國際上增加銷售人員。

We've done that.

我們已經做到了。

We've got some more to do.

我們還有一些事情要做。

So there is growth there.

所以那裡有增長。

We are adding more countries.

我們正在添加更多國家。

There is more to do there.

那裡還有更多事情要做。

And we are adding what we call sweet success, which is where we take an industry -- not even an industry, a micro industry.

我們正在添加我們所謂的甜蜜成功，這是我們採取一個行業的地方——甚至不是一個行業，一個微型行業。

So instead of taking retail, we would take retail bookstores and campus bookstores and universities, and we would refine the solution for campus bookstores and then put a consulting offer around it that we would deliver, so it's a complete one-stop shop for the customer.

因此，我們不採取零售，而是採取零售書店、校園書店和大學，我們會改進校園書店的解決方案，然後圍繞它提供我們將提供的諮詢服務，因此它是一個完整的一站式商店.

And we're continuing to build those out.

我們正在繼續構建它們。

So we've increased R&D yet again to do more of those, increased our sales force yet again to get after more customers.

因此，我們再次增加研發以做更多的事情，再次增加我們的銷售隊伍以吸引更多客戶。

And our expectation is that we continue to drive significant growth in NetSuite.

我們的期望是，我們將繼續推動 NetSuite 的顯著增長。

Okay.

好的。

Thank you, Mark.

謝謝你，馬克。

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

此電話會議的電話重播將持續 24 小時。

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 for any follow-up questions from the call.

如有任何後續問題，請致電投資者關係部。

We look forward to speaking with you.

我們期待與您交談。

Thank you for joining today.

感謝您今天加入。

With that, I'll turn the call back to Holly for closing.

有了這個，我會把電話轉回給霍莉結束。

Thank you, and thank you for joining today's Oracle Fourth Quarter 2019 Earnings Conference Call.

謝謝，也感謝您參加今天的甲骨文 2019 年第四季度收益電話會議。

We appreciate your participation.

感謝您的參與。

You may now disconnect.

您現在可以斷開連接。