Q2 FISCAL 2018 FINANCIAL RESULTS CONDENSED …
ORACLE CORPORATION
Q2 FISCAL 2018 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
REVENUES Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Total cloud revenue New oftware licen e Software licen e update and product upport Total on-premi e oftware revenue Total cloud and on-premi e oftware revenue Hardware revenue Service revenue
Total revenues
OPERATING EXPENSES Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Software licen e update and product upport Hardware Service Sale and marketing Re earch and development General and admini trative Amortization of intangible a et Acqui ition related and other Re tructuring
Total operating expenses
OPERATING INCOME Intere t expen e Non-operating income, net
2017
Three Months Ended November 30,
% of
% of
Revenues
2016
Revenues
% Increase (Decrease)
in US $
% Increase (Decrease) in Constant Currency (1)
$
1,123
12%
$
725
8%
396
4%
328
4%
1,519
16%
1,053
12%
1,353
14%
1,347
15%
4,953
51%
4,777
53%
6,306
65%
6,124
68%
7,825
81%
7,177
80%
940
10%
1,014
11%
856
9%
844
9%
9,621
100%
9,035
100%
55% 21% 44% 0% 4% 3% 9% (7%) 1%
6%
53% 19% 43% (2%) 2% 1% 7% (9%) 0%
5%
396 241 257 351 720 2,082 1,475 321 400
17 292
6,552
3,069 (475) 273
4% 3% 3% 4% 7% 22% 15% 3% 4% 0% 3%
68%
32% (5%) 3%
316 156 242 386 697 1,960 1,510 303 302
40 86
5,998
3,037 (451) 99
3% 2% 3% 5% 8% 21% 17% 3% 3% 0% 1%
66%
34% (5%) 1%
25% 55% 6% (9%) 3% 6% (2%) 6% 33% (58%) 241%
9%
1% 5% 176%
23% 53% 5% (11%) 1% 4% (3%) 5% 33% (59%) 227%
8%
(1%) 5% 178%
INCOME BEFORE PROVISION FOR INCOME TAXES Provi ion for income taxe
NET INCOME
2,867 634
30% 7%
2,685 653
30% 7%
$
2,233
23%
$
2,032
23%
7% (3%)
10%
4% (3%)
7%
EARNINGS PER SHARE: Ba ic Diluted
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Ba ic Diluted
$
0.54
$
0.52
4,160 4,283
$
0.50
$
0.48
4,104 4,195
(1) We compare the percent change in the re ult from one period to another period u ing con tant currency di clo ure. We pre ent con tant currency information to provide a framework for a e ing how our underlying bu ine e performed excluding the effect of foreign currency rate fluctuation . To pre ent thi information, current and comparative prior period re ult for entitie reporting in currencie other than United State dollar are converted into United State dollar at the exchange rate in effect on May 31, 2017, which wa the la t day of our prior fi cal year, rather than the actual exchange rate in effect during the re pective period . Movement in international currencie relative to the United State dollar during the three month ended November 30, 2017 compared with the corre ponding prior year period increa ed our revenue by 1 percentage point, operating expen e by 1 percentage point and operating income by 2 percentage point .
1
ORACLE CORPORATION
Q2 FISCAL 2018 FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
TOTAL REVENUES TOTAL CLOUD AND ON-PREMISE SOFTWARE REVENUES TOTAL CLOUD REVENUES
Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Software licen e update and product upport
TOTAL OPERATING EXPENSES Cloud oftware a a ervice (4) Cloud platform a a ervice and infra tructure a a ervice (4) Sale and marketing (3) Stock-ba ed compen ation (4) Amortization of intangible a et (5) Acqui ition related and other Re tructuring
CLOUD SOFTWARE AS A SERVICE MARGIN %
CLOUD PLATFORM AS A SERVICE AND INFRASTRUCTURE AS A SERVICE MARGIN %
OPERATING INCOME
OPERATING MARGIN %
INCOME TAX EFFECTS (6)
NET INCOME
DILUTED EARNINGS PER SHARE
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
2017 GAAP
Three Months Ended November 30,
2017
2016
Adj.
Non-GAAP
GAAP
Adj.
2016 Non-GAAP
$
9,621 $
7,825
1,519
1,123
396
4,953
9 $
9,630
$
9,035 $
35 $
9,070
9
7,834
7,177
35
7,212
9
1,528
1,053
34
1,087
7
1,130
725
34
759
2
398
328
-
328
-
4,953
4,777
1
4,778
$
6,552 $ (1,122) $
5,430
$
5,998 $ (735) $
5,263
396
(11)
385
316
(6)
310
241
(2)
239
156
(1)
155
2,082
(93)
1,989
1,960
(59)
1,901
307
(307)
-
241
(241)
-
400
(400)
-
302
(302)
-
17
(17)
-
40
(40)
-
292
(292)
-
86
(86)
-
65%
66%
56%
59%
39%
40%
52%
53%
$
3,069 $ 1,131 $
4,200
$
3,037 $ 770 $
3,807
32%
44%
34%
42%
$
634 $ 374 $
1,008
$
653 $ 228 $
881
$
2,233 $ 757 $
2,990
$
2,032 $ 542 $
2,574
$
0.52
$
0.70
$
0.48
$
0.61
4,283
-
4,283
4,195
-
4,195
% Increase (Decrease) % Increase (Decrease) in
in US $
Constant Currency (2)
GAAP Non-GAAP GAAP Non-GAAP
6% 9% 44% 55% 21% 4%
6% 9% 41% 49% 22% 4%
5% 7% 43% 53% 19% 2%
4% 7% 39% 47% 20% 2%
9% 25% 55% 6% 27% 33% (58%) 241%
841 bp.
(1,332) bp.
3% 24% 54% 5%
* * * *
682 bp.
(1,274) bp.
8% 23% 53% 4% 27% 33% (59%) 227%
857 bp.
(1,340) bp.
2% 22% 52% 3%
* * * *
699 bp.
(1,282) bp.
1%
10%
(1%)
8%
(172) bp. 164 bp. (189) bp. 155 bp.
(3%)
14%
(3%)
12%
10%
16%
7%
14%
8%
14%
4%
12%
2%
2%
2%
2%
(1) Thi pre entation include non-GAAP mea ure . Our non-GAAP mea ure are not meant to be con idered in i olation or a a ub titute for comparable GAAP mea ure , and hould be read only in conjunction with our con olidated financial tatement prepared in accordance with GAAP. For a detailed explanation of the adju tment made to comparable GAAP mea ure , the rea on why management u e the e mea ure , the u efulne of the e mea ure and the material limitation on the u efulne of the e mea ure , plea e ee Appendix A.
(2) We compare the percent change in the re ult from one period to another period u ing con tant currency di clo ure. We pre ent con tant currency information to provide a framework for a e ing how our underlying bu ine e performed excluding the effect of foreign currency rate fluctuation . To pre ent thi information,current and comparativeprior period re ult for entitie reporting in currencie other than United State dollar are converted into United State dollar at the exchange rate in effect on May 31, 2017, which wa the la t day of our prior fi cal year, rather than the actual exchange rate in effect during the re pective period .
(3) Non-GAAP adju tment to ale and marketing expen e were a follow :
Stock-ba ed compen ation (4) Acquired deferred ale commi ion amortization
Total non-GAAP ale and marketing adju tment
(4) Stock-ba ed compen ation wa included in the following GAAP operating expen e categorie :
Software licen e update and product upport Hardware Service Re earch and development General and admini trative
Subtotal Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Sale and marketing Acqui ition related and other
Total tock-ba ed compen ation
Three Month Ended
November 30,
2017
2016
$
(98) $
(68)
5
9
$
(93) $
(59)
Three Month Ended
November 30, 2017
GAAP
Adj.
Non-GAAP
$
7 $
(7) $
-
3
(3)
-
14
(14)
-
237
(237)
-
46
(46)
-
307
(307)
-
11
(11)
-
2
(2)
-
98
(98)
-
-
-
-
$
418 $ (418) $
-
Three Month Ended
November 30, 2016
GAAP
Adj.
Non-GAAP
$
6 $
(6) $
-
3
(3)
-
9
(9)
-
188
(188)
-
35
(35)
-
241
(241)
-
6
(6)
-
1
(1)
-
68
(68)
-
11
(11)
-
$
327 $ (327) $
-
(5) E timated future annual amortization expen e related to intangible a Remainder of fi cal 2018 Fi cal 2019 Fi cal 2020 Fi cal 2021 Fi cal 2022 Fi cal 2023 Thereafter Total intangible a et , net
et a of November 30, 2017 wa a follow :
$
781
1,411
1,210
1,023
918
567
884
$
6,794
(6) Income tax effect were calculated reflecting an effective GAAP tax rate of 22.1% and 24.3% in the econd quarter of fi cal 2018 and 2017, re pectively, and an effective non-GAAP tax rate of 25.2% and 25.5% in the econd quarter of fi cal 2018 and 2017, re pectively. The difference between our GAAP and non-GAAP tax rate in the econd quarter of fi cal 2018 and 2017 wa primarily due to the net tax effect on tock-ba ed compen ation expen e and acqui ition related item , including the tax effect of amortization of intangible a et .
* Not meaningful
2
ORACLE CORPORATION
Q2 FISCAL 2018 YEAR TO DATE FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
REVENUES Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Total cloud revenue New oftware licen e Software licen e update and product upport Total on-premi e oftware revenue Total cloud and on-premi e oftware revenue Hardware revenue Service revenue
Total revenues
OPERATING EXPENSES Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Software licen e update and product upport Hardware Service Sale and marketing Re earch and development General and admini trative Amortization of intangible a et Acqui ition related and other Re tructuring
Total operating expenses
OPERATING INCOME Intere t expen e Non-operating income, net
2017
Six Months Ended November 30,
% of
% of
Revenues
2016
Revenues
% Increase (Decrease)
in US $
% Increase (Decrease) in Constant Currency (1)
$
2,189
12%
$
1,382
8%
797
4%
639
3%
2,986
16%
2,021
11%
2,319
12%
2,377
13%
9,904
53%
9,570
55%
12,223
65%
11,947
68%
15,209
81%
13,968
79%
1,884 1,716
10% 9%
2,010 1,652
12% 9%
18,809
100%
17,630
100%
58% 25% 48% (2%) 3% 2% 9% (6%) 4%
7%
57% 23% 47% (4%) 2% 1% 7% (8%) 2%
5%
770 468 515 724 1,422 4,074 3,049 642 811
28 416
12,919
5,890 (944) 505
4% 3% 3% 4% 8% 22% 16% 3% 4% 0% 2%
69%
31% (5%) 3%
600 288 516 776 1,393 3,879 3,030 618 613
54 185
11,952
5,678 (867) 247
3% 2% 3% 5% 8% 22% 17% 4% 3% 0% 1%
68%
32% (5%) 2%
29% 62% 0% (7%) 2% 5% 1% 4% 32% (48%) 125%
8%
4% 9% 104%
27% 60% (1%) (8%) 0% 4% 0% 3% 32% (48%) 118%
7%
2% 9% 105%
INCOME BEFORE PROVISION FOR INCOME TAXES Provi ion for income taxe
NET INCOME
5,451 1,009
29% 5%
5,058 1,194
29% 7%
$
4,442
24%
$
3,864
22%
8% (15%)
15%
6% (16%)
13%
EARNINGS PER SHARE: Ba ic Diluted
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Ba ic Diluted
$
1.07
$
1.04
4,158 4,283
$
0.94
$
0.92
4,112 4,208
(1) We compare the percent change in the re ult from one period to another period u ing con tant currency di clo ure. We pre ent con tant currency information to provide a framework for a e ing how our underlying bu ine e performed excluding the effect of foreign currency rate fluctuation . To pre ent thi information, current and comparative prior period re ult for entitie reporting in currencie other than United State dollar are converted into United State dollar at the exchange rate in effect on May 31, 2017, which wa the la t day of our prior fi cal year, rather than the actual exchange rate in effect during the re pective period . Movement in international currencie relative to the United State dollar during the ix month ended November 30, 2017 compared with the corre ponding prior year period increa ed our revenue by 2 percentage point , operating expen e by 1 percentage point and operating income by 2 percentage point .
3
ORACLE CORPORATION
Q2 FISCAL 2018 YEAR TO DATE FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
TOTAL REVENUES TOTAL CLOUD AND ON-PREMISE SOFTWARE REVENUES TOTAL CLOUD REVENUES
Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Software licen e update and product upport
TOTAL OPERATING EXPENSES Cloud oftware a a ervice (4) Cloud platform a a ervice and infra tructure a a ervice (4) Sale and marketing (3) Stock-ba ed compen ation (4) Amortization of intangible a et (5) Acqui ition related and other Re tructuring
CLOUD SOFTWARE AS A SERVICE MARGIN %
CLOUD PLATFORM AS A SERVICE AND INFRASTRUCTURE AS A SERVICE MARGIN %
OPERATING INCOME
OPERATING MARGIN %
INCOME TAX EFFECTS (6)
NET INCOME
DILUTED EARNINGS PER SHARE
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
2017 GAAP
Six Months Ended November 30,
2017
2016
2016
Adj.
Non-GAAP
GAAP
Adj.
Non-GAAP
$ 18,809 $ 15,209 2,986 2,189 797 9,904
34 $ 18,843
34
15,243
34
3,020
30
2,219
4
801
-
9,904
$ 12,919 $ (2,060) $ 10,859
770
(20)
750
468
(4)
464
4,074
(171)
3,903
610
(610)
-
811
(811)
-
28
(28)
-
416
(416)
-
65%
66%
41%
42%
$
5,890 $ 2,094 $
7,984
31%
42%
$
1,009 $ 885 $
1,894
$
4,442 $ 1,209 $
5,651
$
1.04
$
1.32
$ 17,630 $ 13,968 2,021 1,382 639 9,570
53 $ 53 52 52
1
17,683 14,021
2,073 1,434
639 9,571
$ 11,952 $ (1,478) $ 10,474
600
(11)
589
288
(2)
286
3,879
(124)
3,755
489
(489)
-
613
(613)
-
54
(54)
-
185
(185)
-
57%
59%
55%
55%
$
5,678 $ 1,531 $
7,209
32%
41%
$
1,194 $ 486 $
1,680
$
3,864 $ 1,045 $
4,909
$
0.92
$
1.17
4,283
-
4,283
4,208
-
4,208
% Increase (Decrease) % Increase (Decrease) in
in US $
Constant Currency (2)
GAAP Non-GAAP GAAP Non-GAAP
7% 9% 48% 58% 25% 3%
7% 9% 46% 55% 25% 3%
5% 7% 47% 57% 23% 2%
5% 7% 45% 54% 24% 2%
8% 29% 62% 5% 25% 32% (48%) 125%
812 bp.
(1,360) bp.
4%
4% 28% 62% 4%
* * * *
718 bp.
(1,302) bp.
11%
7% 27% 60% 4% 25% 32% (48%) 118%
825 bp.
(1,366) bp.
2%
2% 26% 60% 2%
* * * *
732 bp.
(1,307) bp.
9%
(89) bp.
161 bp. (100) bp. 157 bp.
(15%)
13%
(16%)
11%
15% 13%
15% 13%
13% 11%
13% 11%
2%
2%
2%
2%
(1) Thi pre entation include non-GAAP mea ure . Our non-GAAP mea ure are not meant to be con idered in i olation or a a ub titute for comparableGAAP mea ure , and hould be read only in conjunction with our con olidated financial tatement prepared in accordance with GAAP. For a detailed explanation of the adju tment made to comparable GAAP mea ure , the rea on why management u e the e mea ure , the u efulne of the e mea ure and the material limitation on the u efulne of the e mea ure , plea e ee Appendix A.
(2) We compare the percent change in the re ult from one period to another period u ing con tant currency di clo ure. We pre ent con tant currency information to provide a framework for a e ing how our underlying bu ine e performed excluding the effect of foreign currency rate fluctuation . To pre ent thi information,current and comparativeprior period re ult for entitie reporting in currencie other than United State dollar are converted into United State dollar at the exchange rate in effect on May 31, 2017, which wa the la t day of our prior fi cal year, rather than the actual exchange rate in effect during the re pective period .
(3) Non-GAAP adju tment to ale and marketing expen e were a follow :
Stock-ba ed compen ation (4) Acquired deferred ale commi ion amortization
Total non-GAAP ale and marketing adju tment
Six Month Ended
November 30,
2017
2016
$
(187) $ (133)
16
9
$
(171) $ (124)
(4) Stock-ba ed compen ation wa included in the following GAAP operating expen e categorie :
Software licen e update and product upport Hardware Service Re earch and development General and admini trative
Subtotal Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice Sale and marketing Acqui ition related and other
Total tock-ba ed compen ation
Six Month Ended
November 30, 2017
GAAP
Adj.
Non-GAAP
$
14 $
(14) $
-
6
(6)
-
28
(28)
-
472
(472)
-
90
(90)
-
610
(610)
-
20
(20)
-
4
(4)
-
187
(187)
-
1
(1)
-
$
822 $ (822) $
-
Six Month Ended
November 30, 2016
GAAP
Adj.
Non-GAAP
$
12 $
(12) $
-
6
(6)
-
17
(17)
-
382
(382)
-
72
(72)
-
489
(489)
-
11
(11)
-
2
(2)
-
133
(133)
-
11
(11)
-
$
646 $ (646) $
-
(5) E timated future annual amortization expen e related to intangible a
Remainder of fi cal 2018 Fi cal 2019 Fi cal 2020 Fi cal 2021 Fi cal 2022 Fi cal 2023 Thereafter
Total intangible a et , net
et a of November 30, 2017 wa a follow :
$
781
1,411
1,210
1,023
918
567
884
$
6,794
(6) Income tax effect were calculated reflecting an effective GAAP tax rate of 18.5% and 23.6% in the fir t half of fi cal 2018 and 2017, re pectively, and an effective non-GAAP tax rate of 25.1% and 25.5% in the fir t half of fi cal 2018 and 2017, re pectively. The difference between our GAAP and non-GAAP tax rate in fi cal 2018 wa primarily due to the net tax effect on tock-ba ed compen ationexpen e and acqui ition related item , including the tax effect of amortizationof intangible a et . The difference between our GAAP and non-GAAP tax rate in the fir t half of fi cal 2018 and 2017 wa primarily due to the net tax effect on tock-ba ed compen ation expen e and acqui ition related item , including the tax effect of amortization of intangible a et .
* Not meaningful
4
ORACLE CORPORATION
Q2 FISCAL 2018 FINANCIAL RESULTS CONDENSED CONSOLIDATED BALANCE SHEETS
($ in millions)
ASSETS
Current Assets: Ca h and ca h equivalent Marketable ecuritie Trade receivable , net Inventorie Prepaid expen e and other current a et
Total Current Assets
Non-Current Assets: Property, plant and equipment, net Intangible a et , net Goodwill, net Deferred tax a et Other a et
Total Non-Current Assets
TOTAL ASSETS
LIABILITIES AND EQUITY
Current Liabilities: Note payable and other borrowing , current Account payable Accrued compen ation and related benefit Deferred revenue Other current liabilitie Total Current Liabilities
Non-Current Liabilities: Note payable and other borrowing , non-current Income taxe payable Other non-current liabilitie Total Non-Current Liabilities
Equity
TOTAL LIABILITIES AND EQUITY
November 30, 2017
May 31, 2017
$
21,310
50,270
3,798
436
2,731
78,545
5,868 6,794 42,964 1,222 3,369
60,217
$
138,762
$
21,784
44,294
5,300
300
2,837
74,515
5,315 7,679 43,045 1,143 3,294
60,476
$
134,991
$
2,499
554
1,500
8,076
2,865
15,494
58,170 6,082 2,716
66,968
56,300
$
138,762
$
9,797
599
1,966
8,233
3,583
24,178
48,112 5,681 2,774
56,567
54,246
$
134,991
5
ORACLECORPORATION
Q2 FISCAL 2018 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
($ in millions)
Cash Flows From Operating Activities: Net income Adju tment to reconcile net income to net ca h provided by operating activitie : Depreciation Amortization of intangible a et Deferred income taxe Stock-ba ed compen ation Other, net Change in operating a et and liabilitie , net of effect from acqui ition : Decrea e in trade receivable , net Increa e in inventorie Decrea e in prepaid expen e and other a et Decrea e in account payable and other liabilitie Increa e in income taxe payable Decrea e in deferred revenue
Net cash provided by operating activities
Cash Flows From Investing Activities: Purcha e of marketable ecuritie and other inve tment Proceed from maturitie and ale of marketable ecuritie and other inve tment Acqui ition , net of ca h acquired Capital expenditure
Net cash used for investing activities
Cash Flows From Financing Activities: Payment for repurcha e of common tock Proceed from i uance of common tock Share repurcha ed for tax withholding upon ve ting of re tricted tock-ba ed award Payment of dividend to tockholder Proceed from borrowing , net of i uance co t Repayment of borrowing Di tribution to noncontrolling intere t
Net cash (used for) provided by financing activities
Effect of exchange rate changes on cash and cash equivalents
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period
Six Months Ended November 30,
2017
2016
$
4,442
573 811
95 822
81
1,529 (135) 138 (618) 22 (344)
7,416
$
3,864
463 613 103 646
85
1,680 (116) 321 (499) 9 (208)
6,961
(18,022) 11,566
-- (1,072)
(7,528)
(10,090) 6,080 (9,854) (1,056)
(14,920)
(2,454) 1,353
(434) (1,579) 9,945 (7,300)
(34)
(503)
141 (474)
21,784
$
21,310
(2,569) 746 (188)
(1,232) 13,932 (3,750)
(200)
6,739
(340) (1,560)
20,152
$
18,592
6
ORACLE CORPORATION
Q2 FISCAL 2018 FINANCIAL RESULTS FREE CASH FLOW - TRAILING 4-QUARTERS (1)
($ in millions)
GAAP Operating Cash Flow Capital Expenditures Free Cash Flow % Growth over prior year
Fiscal 2017
Fiscal 2018
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
$
13,679 $
14,249 $
13,453 $
14,126 $
14,817 $
14,581
(1,042)
(1,604)
(1,676)
(2,021)
(2,195)
(2,037)
$
12,637 $
12,645 $
11,777 $
12,105 $
12,622 $
12,544
5%
10%
(7%)
(3%)
0%
(1%)
GAAP Net Income Free Cash Flow as a % of Net Income
$
8,986 $
8,820 $
8,917 $
9,335 $
9,713 $
9,914
141%
143%
132%
130%
130%
127%
(1) To upplement our tatement of ca h flow pre ented on a GAAP ba i , we u e non-GAAP mea ure of ca h flow on a trailing 4-quarter ba i to analyze ca h flow generated from operation . We believe free ca h flow i al o u eful a one of the ba e for comparing our performance with our competitor . The pre entation of non-GAAP free ca h flow i not meant to be con idered in i olation or a an alternative to net income a an indicator of our performance, or a an alternative to ca h flow from operating activitie a a mea ure of liquidity.
7
ORACLE CORPORATION
Q2 FISCAL 2018 FINANCIAL RESULTS SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1)
($ in millions)
REVENUES Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice
Total cloud revenue
New oftware licen e Software licen e update and product upport
Total on-premi e oftware revenue Total cloud and on-premi e oftware revenue
Fiscal 2017
Fiscal 2018
Q1
Q2
Q3
Q4
TOTAL
Q1
Q2
Q3
Q4
$ 657 $ 725 $ 865 $ 964 $ 3,211 $ 1,067 $ 1,123
312
328
324
397 1,360
400
396
969 1,053 1,189 1,361 4,571 1,467 1,519
1,030 4,792 5,822 6,791
1,347 4,777 6,124 7,177
1,414 4,762 6,176 7,365
2,626 4,897 7,523 8,884
6,418 19,229 25,647 30,218
966 4,951 5,917 7,384
1,353 4,953 6,306 7,825
Total hardware revenue
996 1,014 1,028 1,114 4,152
943
940
Total ervice revenue
808
844
812
894 3,358
860
856
Total revenue
$ 8,595 $ 9,035 $ 9,205 $ 10,892 $ 37,728 $ 9,187 $ 9,621
AS REPORTED REVENUE GROWTH RATES Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice
Total cloud revenue
New oftware licen e Software licen e update and product upport
Total on-premi e oftware revenue Total cloud and on-premi e oftware revenue
50% 80% 59%
(11%) 2% 0% 5%
57% 75% 62%
(20%) 2%
(4%) 2%
64% 55% 62%
(16%) 2%
(3%) 4%
67% 40% 58%
(5%) 2%
(1%) 5%
61% 60% 60%
(12%) 2%
(2%) 4%
62% 28% 51%
(6%) 3% 2% 9%
55% 21% 44%
0% 4% 3% 9%
Total hardware revenue
(12%) (10%)
(9%) (13%) (11%)
(5%)
(7%)
Total ervice revenue
(6%)
(2%)
2%
3%
(1%)
6%
1%
Total revenue
2%
0%
2%
3%
2%
7%
6%
CONSTANT CURRENCY GROWTH RATES (2) Cloud oftware a a ervice Cloud platform a a ervice and infra tructure a a ervice
Total cloud revenue
New oftware licen e Software licen e update and product upport
Total on-premi e oftware revenue Total cloud and on-premi e oftware revenue
52% 84% 61%
(10%) 3% 1% 6%
59% 78% 64%
(19%) 3%
(3%) 3%
65% 57% 63%
(15%) 3%
(2%) 5%
69% 42% 60%
(4%) 3% 0% 6%
62% 62% 62%
(11%) 3%
(1%) 5%
62% 27% 51%
(7%) 2% 1% 8%
53% 19% 43%
(2%) 2% 1% 7%
Total hardware revenue
(11%)
(9%)
(9%) (12%) (10%)
(6%)
(9%)
Total ervice revenue
(5%)
0%
3%
4%
1%
5%
0%
Total revenue
3%
1%
3%
4%
3%
6%
5%
TOTAL
$ 2,189 797
2,986 2,319 9,904 12,223 15,209
1,884
1,716
$ 18,809
58% 25% 48% (2%)
3% 2% 9%
(6%)
4%
7%
57% 23% 47% (4%)
2% 1% 7%
(8%)
2%
5%
(1) The um of the quarterly information pre ented may vary from the year-to-date information pre ented due to rounding.
(2) We compare the percent change in the re ult from one period to another period u ing con tant currency di clo ure. We pre ent con tant currency information to provide a framework for a e ing how our underlying bu ine e performed excluding the effect of foreign currency rate fluctuation . To pre ent thi information, current and comparative prior period re ult for entitie reporting in currencie other than United State dollar are converted into United State dollar at the exchange rate in effect on May 31, 2017 and 2016 for the fi cal 2018 and fi cal 2017 con tant currency growth rate calculation pre ented, re pectively, rather than the actual exchange rate in effect during the re pective period .
8
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