Oracle CEO Catz: Our higher margin cloud business continues to get bigger
"Non-GAAP earnings per share grew 14% in USD and 16% in constant currency," said Oracle CEO, Safra Catz. "As our low margin hardware businesses continue to get smaller, while our higher margin cloud business continues to get bigger, we expect Oracle's operating margins, earnings per share and free cash flow all to grow. We're off to a good start in FY20, and we expect this to be our 3rd consecutive year of double-digit non-GAAP earnings per share growth." "Our cloud ERP businesses, including both Fusion ERP and NetSuite ERP, grew 33% in Q1," said Oracle CEO, Mark Hurd. "We now have over 6,500 Fusion ERP customers and over 18,000 NetSuite ERP customers. This continued strong growth has solidified our number one market leader position in cloud ERP worldwide, and our number one position in the overall applications business in North America." "Autonomy is the defining attribute of a Generation 2 Cloud," said Oracle CTO, Larry Ellison. "Next week at our OpenWorld conference, we will announce more Autonomous Cloud Services to complement the Oracle Autonomous Database. The Autonomous Database is the most successful new product in Oracle's history. We added more than 500 new Autonomous Database cloud customers in Q1, and we expect to more than double that in Q2."