Oracle FY 1Q15 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Larry Ellison transitions to chairman

“As you’ve seen in the last few minutes we announced that Larry was elected Executive Chairman and appointed Chief Technology Officer; Mark and I have been appointed CEO. Other than Mark and I reporting to the Board of Directors of which Larry will be Executive Chairman instead of to Larry directly no other reporting relationships will change at the company.”

Our goal is to beat salesforce in the cloud

“we’re focused on two things, becoming number one in the cloud. That means growing our cloud business rapidly. So you’re seeing an acceleration in our growth rate. We are forecasting that we grow our cloud, our SaaS and PaaS cloud business this coming quarter between 40% and 45%. So not only are we getting bigger in the cloud, our growth rate is going up. That’s usually the opposite of what happens. So we are focused on becoming number one in the cloud being bigger than Salesforce in the cloud. And to do that we got to increase our growth rates and that’s exactly what we’re doing.

Now while we’re doing that, we have one other key focus to continue to deliver record levels of cash flow and that’s exactly what we’re doing. So we’re getting bigger in the cloud, our growth rate is increasing in the cloud. Our cash flow is getting better we think it was a great Q1 and it’s going to get even better in terms of our growth rates in the cloud.”

Larry is staying on the call

“ou’re going to have to wait a little while longer before you get me off the call. I apologize to everyone for that.”

There wont be significant changes to the organization with the management changes

“Yeah, and Karl I just want to make sure we are very, very clear. There will actually be no changes, no significant changes right, just want to clarify, no changes whatsoever.”

The cloud just means doing more for our customers

“he way I look at is we are going to be doing more for our customers, exactly what Safra said earlier, we are going to be doing more for our customers than we did before. So before we use to sell them software and they would have to provide their own datacenters and their own machines and their own labor and their own network to run all of that.

And now we are going to put a lot of that in our datacenter, we are going to buy the machines, we are going to provide both the skilled labor, whether you are buying the infrastructure-as-a-service, we will be maintaining the operating system and the virtual machine for you along with the hardware and storage, processing and storage.”