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Contact:Ken BondOracle Investor [email protected] HellingerOracle Corporate le.comOracle Announces Fiscal 2021 Third Quarter Financial Results Q3 FY2021 GAAP EPS up 113% to 1.68, Non-GAAP EPS up 20% to 1.16Oracle Gen2 Cloud Infrastructure, including Autonomous Database revenue up over 100%Fusion Cloud ERP revenue up 30%, NetSuite Cloud ERP revenue up 24%AUSTIN, Texas, March 10, 2021 -- Oracle Corporation (NYSE: ORCL) today announced fiscal2021 Q3 results. Total quarterly revenues were up 3% year-over-year to 10.1 billion. Cloudservices and license support revenues were up 5% to 7.3 billion. Cloud license and on-premiselicense revenues were up 4% to 1.3 billion.Q3 GAAP operating income was up 10% to 3.9 billion and GAAP operating margin was38%. Non-GAAP operating income was up 10% to 4.8 billion and non-GAAP operating margin was47%. GAAP net income was up 95% to 5.0 billion, and GAAP earnings per share was up 113% to 1.68. The GAAP income statement was impacted by a one-time net tax benefit totaling 2.3 billionrelated to the transfer of certain assets between subsidiaries. Non-GAAP net income was up 10% to 3.5 billion, and non-GAAP earnings per share was up 20% to 1.16.Short-term deferred revenues were 8.1 billion. Operating cash flow was 14.7 billionduring the trailing twelve months.“We continued to extend our huge lead in the cloud ERP market as Fusion ERP grew 30%and NetSuite ERP grew 24% in Q3,” said Oracle CEO, Safra Catz. “Oracle’s rapidly growing highlyprofitable, multi-billion dollar cloud ERP businesses helped drive subscription revenue up 5% andoperating income up 10% in the quarter. Subscription revenue now accounts for 72% of Oracle’stotal revenues, and this highly-predictable recurring revenue-stream along with expense disciplineare enabling double-digit increases in non-GAAP earnings per share.”
“Once again in Q3, Oracle’s Gen2 Cloud Infrastructure business added customers, and grewrevenue at a rate in excess of 100%,” said Oracle Chairman and CTO, Larry Ellison. “We are openingnew regions as fast as we can to support our rapidly growing multi-billion dollar infrastructurebusiness. On the applications front, analysts continue to rank Oracle the clear number one in cloudERP, and this quarter Oracle signed contracts totaling hundreds of millions of dollars to migrateseveral more large companies from SAP ERP to Oracle Fusion ERP.”The Board of Directors increased the authorization for share repurchases by 20 billion.Oracle also announced that its Board of Directors declared a quarterly cash dividend of 0.32 pershare of outstanding common stock, reflecting a 33% increase over the current quarterly dividendof 0.24. Larry Ellison, Oracle’s Chairman of the Board of Directors, Chief Technology Officer andlargest stockholder, did not participate in the deliberation, or the vote on this matter. Thisincreased dividend will be paid to stockholders of record as of the close of business on April 8,2021, with a payment date of April 22, 2021.Technical Innovations Oracle expanded its Cloud portfolio with Oracle Roving Edge Infrastructure to enablesecure, scalable cloud services wherever customers need them, even in the most remoteareas of the world. Oracle developed and delivered a cloud based National Electronic Health Records (EHR)Database plus a suite of Public Health Management Applications to help U.S. public healthagencies and healthcare providers collect and analyze data related to COVID-19. Oracle launched Oracle Database 21c with more than 200 new features that reinforce thestrength of Oracle’s converged database strategy. Oracle Autonomous Database scored the highest in all four Use Cases in the 2020 Gartner“Critical Capabilities for Cloud Database Management Systems for Operational Use Cases”report. A more complete list of recent technical innovations and announcements is available atwww.oracle.com/news.Customer Momentum
Australian Data Centres - To provide high security data center services to Australia’s federalgovernment, major telecommunication companies, and businesses, Australian Data Centresneeds secure and scalable computing power, and they need it inside the country’s borders.They chose Oracle Dedicated Region Cloud@Customer to provide that cloud computingpower, since it provides all the services and advantages of Oracle Cloud but lets AustralianData Centres put that capacity in an in-country location of their choice. Denver Public Schools - With the city’s population growing nearly 20% since 2010, DenverPublic Schools saw an unprecedented expansion of programs in serving more than 90,000students in 207 schools. To replace an Infor Lawson system, the Denver Public Schools’leadership considered Infor, Oracle, and SAP systems. The District chose Oracle FusionCloud ERP, HCM and EPM to help them streamline and automate back-office businessprocesses, model and plan across finance and HR, control costs, and drive better decisions. Bed Bath & Beyond - A North American retailer that sells a wide assortment of home, baby,beauty, and wellness merchandise online and in stores. The company selected Oracle Retailsolutions and Oracle Fusion Cloud ERP for the capability to provide decision-makers with anend-to-end view of financials through merchandising, resulting in better supply chain andstore inventory management. AxiomSL - A global leader in risk analytics, data management, and regulatory reportingsolutions, leverages the Oracle Autonomous Database to handle critical workloads for itsRegCloud offering. Autonomous Database has facilitated significant performance gains forAxiomSL over its prior solution when testing more than 160 million rows. The power ofAutonomous Database enables AxiomSL to move existing customers to the cloud andexpand its client base. A more complete list of customers which purchased Oracle Cloud services during thequarter will be available at www.oracle.com/customers/earnings.Earnings Conference Call and Webcast
Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m.Central. A live and replay webcast will be available on the Oracle Investor Relations website atwww.oracle.com/investor.About OracleThe Oracle Cloud offers complete suites of integrated applications plus secure Generation 2Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle(NYSE:ORCL), visit us at www.oracle.com or contact Investor Relations at investor [email protected] (650) 506-4073.# # #TrademarksOracle and Java are registered trademarks of Oracle."Safe Harbor" Statement: Statements in this press release relating to Oracle's future plans,expectations, beliefs, intentions and prospects, including statements regarding future growth inour cloud ERP and infrastructure businesses, as well as growth in our subscription revenue, are"forward-looking statements" and are subject to material risks and uncertainties. Many factorscould affect our current expectations and our actual results, and could cause actual results to differmaterially. We presently consider the following to be among the important factors that could causeactual results to differ materially from expectations: (1) The COVID-19 pandemic has affected howwe and our customers are operating our respective businesses, and the duration and extent towhich this will impact our future results of operations and our overall financial performanceremains uncertain. (2) Our success depends upon our ability to develop new products and services,integrate acquired products and services and enhance our existing products and services. (3) Ourcloud strategy, including our Oracle Cloud Software-as-a-Service and Infrastructure-as-a-Serviceofferings, may adversely affect our revenues and profitability. (4) We might experience significantcoding, manufacturing or configuration errors in our cloud, license and hardware offerings. (5) Ifthe security measures for our products and services are compromised and as a result, our data, ourcustomers' data or our IT systems are accessed improperly, made unavailable, or improperlymodified, our products and services may be perceived as vulnerable, our brand and reputationcould be damaged, the IT services we provide to our customers could be disrupted, and customersmay stop using our products and services, all of which could reduce our revenue and earnings,increase our expenses and expose us to legal claims and regulatory actions. (6) Our businesspractices with respect to data could give rise to operational interruption, liabilities or reputationalharm as a result of governmental regulation, legal requirements or industry standards relating toprivacy and data protection. (7) Economic, political and market conditions can adversely affect ourbusiness, results of operations and financial condition, including our revenue growth andprofitability, which in turn could adversely affect our stock price. (8) If we are unable to competeeffectively, the results of operations and prospects for our business could be harmed. (9) Our
international sales and operations subject us to additional risks that can adversely affect ouroperating results. (10) Acquisitions present many risks and we may not achieve the financial andstrategic goals that were contemplated at the time of a transaction. A detailed discussion of thesefactors and other risks that affect our business is contained in our SEC filings, including our mostrecent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copiesof these filings are available online from the SEC or by contacting Oracle Corporation's InvestorRelations Department at (650) 506-4073 or by clicking on SEC Filings on Oracle’s Investor Relationswebsite at http://www.oracle.com/investor. All information set forth in this press release is currentas of March 10, 2021. Oracle undertakes no duty to update any statement in light of newinformation or future events.
ORACLE CORPORATIONQ3 FISCAL 2021 FINANCIAL RESULTSCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS( in millions, except per share data)February 28,2021REVENUESCloud services and license supportCloud license and on-premise licenseHardwareServicesTotal revenues % ofRevenues% Increase(Decrease)in US % Increase(Decrease)in ConstantCurrency 3%2%0%(6%)(8%)0%Three Months Ended% ofFebruary %OPERATING EXPENSESCloud services and license supportHardwareServicesSales and marketingResearch and developmentGeneral and administrativeAmortization of intangible assetsAcquisition related and otherRestructuringTotal operating ATING INCOMEInterest expenseNon-operating (expenses) income, 8%*5%28%*INCOME BEFORE BENEFIT FROM (PROVISION FOR) INCOME TAXESBenefit from (provision for) income taxes3,2761,74532%18%3,076(505)31%(5%)7%*2%*50% 2,57126%95%87% 0.810.79NET INCOME 5,021EARNINGS PER SHARE:BasicDiluted 1.721.68WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:BasicDiluted2,9132,994 3,1903,271(1) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currencyinformation to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. Topresent this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted intoUnited States dollars at the exchange rates in effect on May 31, 2020, which was the last day of our prior fiscal year, rather than the actual exchange rates ineffect during the respective periods. Movements in international currencies relative to the United States dollar during the three months ended February 28,2021 compared with the corresponding prior year period increased our revenues by 3 percentage points, operating expenses by 1 percentage point andoperating income by 5 percentage points.* Not meaningful1
ORACLE CORPORATIONQ3 FISCAL 2021 FINANCIAL RESULTSRECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)( in millions, except per share data)February 28,2021GAAPAdj.TOTAL REVENUESCloud services and license support 10,0857,252 TOTAL OPERATING EXPENSESStock-based compensation (3)Amortization of intangible assets (4)Acquisition related and otherRestructuring 6,2074793471366 OPERATING INCOME 3,878 OPERATING MARGIN %11 9,7966,930 (905)(479)(347)(13)(66) 5,302- 6,268361400760 906 4,784 3,528 47% 1,745 (2,442) NET INCOME 5,021 (1,536) 3,485 2,571DILUTED EARNINGS PER SHARE 1.68 1.16 0.79-2,994GAAPNon-GAAPGAAPNon-GAAP 9,7976,9313%5%3%5%0%2%0%2%(828)(361)(400)(7)(60) 4%)****829 4,3571136%INCOME TAX EFFECTS (5)2,994(697)February 29,2020Non-GAAPAdj. 10,0867,25338%DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING% Increase (Decrease) % Increase (Decrease) inin US Constant Currency (2)Three Months EndedFebruary 28,February 29,20212020Non-GAAPGAAP (505)3,27144%10%5%6%297 bp.179 bp.247 bp.(10%) (240) *(6%)* 589 3,16095%10%87%6% 4 bp.(1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction withour consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures,the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.(2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how ourunderlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other thanUnited States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2020, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect duringthe respective periods.(3) Stock-based compensation was included in the following GAAP operating expense categories:Cloud services and license supportHardwareServicesSales and marketingResearch and developmentGeneral and administrativeTotal stock-based compensationThree Months EndedFebruary 28, 2021GAAPAdj.Non-GAAP 33 (33) 2(2)15(15)82(82)307(307)40(40) 479 (479) -Three Months EndedFebruary 29, 2020GAAPAdj.Non-GAAP 22 (22) 3(3)14(14)67(67)238(238)17(17) 361 (361) -(4) Estimated future annual amortization expense related to intangible assets as of February 28, 2021 was as follows:Remainder of fiscal 2021Fiscal 2022Fiscal 2023Fiscal 2024Fiscal 2025Fiscal 2026ThereafterTotal intangible assets, net 3281,12069645012624102,754(5) Income tax effects were calculated reflecting an effective GAAP tax rate of (53.3%) and 16.4% in the third quarter of fiscal 2021 and 2020, respectively, and an effective non-GAAP tax rate of 16.7% and 19.1% in thethird quarter of fiscal 2021 and 2020, respectively. The difference in our GAAP and non-GAAP tax rates in the third quarter of fiscal 2021 was primarily due to a net tax benefit of 2.3 billion related to the partialrealignment of our legal entity structure (refer to Appendix A for additional information), the net tax effects on stock-based compensation expense, and the net tax effects related to acquisition related items,including the net tax effects on amortization of intangible assets. The difference in our GAAP and non-GAAP tax rates in the third quarter of fiscal 2020 was primarily due to the net tax effects on stock-basedcompensation expense and the net tax effects on acquisition related items, including the tax effects on amortization of intangible assets.* Not meaningful2
ORACLE CORPORATIONQ3 FISCAL 2021 YEAR TO DATE FINANCIAL RESULTSCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS( in millions, except per share data)February 28,2021REVENUESCloud services and license supportCloud license and on-premise licenseHardwareServicesTotal revenues % ofRevenues% Increase(Decrease)in US % Increase(Decrease)in ConstantCurrency %)(7%)2%3%1%(3%)(8%)1%Nine Months Ended% ofFebruary 8%100%OPERATING EXPENSESCloud services and license supportHardwareServicesSales and marketingResearch and developmentGeneral and administrativeAmortization of intangible assetsAcquisition related and otherRestructuringTotal operating %)145%82%(3%)OPERATING INCOMEInterest expenseNon-operating (expenses) income, *3%*33% 7,01925%38%34% 2.162.10INCOME BEFORE BENEFIT FROM (PROVISION FOR) INCOME TAXESBenefit from (provision for) income taxesNET INCOME 9,714EARNINGS PER SHARE:BasicDiluted 3.263.19WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:BasicDiluted2,9773,049 3,2513,337(1) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency informationto provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present thisinformation, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United Statesdollars at the exchange rates in effect on May 31, 2020, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during therespective periods. Movements in international currencies relative to the United States dollar during the nine months ended February 28, 2021 compared withthe corresponding prior year period increased our revenues by 1 percentage point, operating expenses by 1 percentage point and operating income by 2percentage points.* Not meaningful3
ORACLE CORPORATIONQ3 FISCAL 2021 YEAR TO DATE FINANCIAL RESULTSRECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)( in millions, except per share data)February 28,2021GAAPAdj.TOTAL ensesupportsupportrevenues 29,25221,311 TOTAL OPERATING EXPENSESStock-based compensation (3)Amortization of intangible assets (4)Acquisition related and otherRestructuring 18,5801,3951,037107337 OPERATING INCOME 10,672 OPERATING MARGIN %22Adj.GAAPNon-GAAPGAAPNon-GAAP )****(3%)16%(15%)145%82%(5%)**** 28,62920,546 (2,876)(1,395)(1,037)(107)(337) 15,704- 19,0411,2041,22144181 (2,650)(1,204)(1,221)(44)(181) 16,391-2,878 13,550 2,653 12,241INCOME TAX EFFECTS (5) 871 (2,990)NET INCOME 9,714 (112)DILUTED EARNINGS PER SHARE 3.193,049-9,58846%33% (2,119) (1,348) 9,602 7,019 3.15 2.103,0493,33733February 29,2020Non-GAAP 29,25421,31336%DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING% Increase (Decrease) % Increase (Decrease) inin US Constant Currency (2)Nine Months EndedFebruary 28,February 29,20212020Non-GAAPGAAP43%(769)1,884- (2,117)11%11%9%9%299 bp.357 bp.257 bp.322 bp.(2%)*0%* 8,90338%8%34%6% 2.6751%18%48%16%3,337(9%)(9%)(9%)(9%)(1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction withour consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures,the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.(2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how ourunderlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other thanUnited States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2020, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect duringthe respective periods.(3) Stock-based compensation was included in the following GAAP operating expense categories:Cloud services and license supportHardwareServicesSales and marketingResearch and developmentGeneral and administrativeTotal stock-based compensationGAAP 99841233897117 1,395Nine Months EndedFebruary 28, 2021Adj.Non-GAAP (99) (8)(41)(233)(897)(117) (1,395) -GAAP 8384219278198 1,204Nine Months EndedFebruary 29, 2020Adj.Non-GAAP (83) (8)(42)(192)(781)(98) (1,204) -(4) Estimated future annual amortization expense related to intangible assets as of February 28, 2021 was as follows:Remainder of fiscal 2021Fiscal 2022Fiscal 2023Fiscal 2024Fiscal 2025Fiscal 2026ThereafterTotal intangible assets, net 3281,12069645012624102,754(5) Income tax effects were calculated reflecting an effective GAAP tax rate of (9.8%) and 16.1% in the first nine months of fiscal 2021 and 2020, respectively, and an effective non-GAAP tax rate of 18.1% and 19.2% inthe first nine months of fiscal 2021 and 2020, respectively. The difference in our GAAP and non-GAAP tax rates for the first nine months of fiscal 2021 was primarily due to a net tax benefit of 2.3 billion related tothe partial realignment of our legal entity structure (refer to Appendix A for additional information), the net tax effects on stock-based compensation expense, and the net tax effects related to acquisition relateditems, including the net tax effects on amortization of intangible assets. The difference in our GAAP and non-GAAP tax rates in the first nine months of fiscal 2020 was primarily due to the net tax effects on stockbased compensation expense and the net tax effects on acquisition related items, including the tax effects on amortization of intangible assets.* Not meaningful4
ORACLE CORPORATIONQ3 FISCAL 2021 FINANCIAL RESULTSCONDENSED CONSOLIDATED BALANCE SHEETS( in millions)February 28,2021May 31,2020ASSETSCurrent Assets:Cash and cash equivalentsMarketable securitiesTrade receivables, netPrepaid expenses and other current assets Total Current Assets22,32113,5434,6373,243 37,2395,8185,5513,53243,74452,140Non-Current Assets:Property, plant and equipment, netIntangible assets, netGoodwill, netDeferred tax assetsOther non-current ,2526,295Total Non-Current Assets74,36563,298TOTAL ASSETS 118,109 115,438 5,7588121,6848,0883,90820,250 2,3716371,4538,0024,73717,200LIABILITIES AND EQUITYCurrent Liabilities:Notes payable, currentAccounts payableAccrued compensation and related benefitsDeferred revenuesOther current liabilitiesTotal Current LiabilitiesNon-Current Liabilities:Notes payable and other borrowings, non-currentIncome taxes payableDeferred tax liabilitiesOther non-current liabilitiesTotal Non-Current 612,463413,79185,5219,637TOTAL LIABILITIES AND EQUITY 5118,10912,717 115,438
ORACLE CORPORATIONQ3 FISCAL 2021 FINANCIAL RESULTSCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS( in millions)Nine Months EndedFebruary 28,February 29,20212020Cash Flows From Operating Activities:Net income 9,714 7,019Adjustments to reconcile net income to net cash provided by operating activities:Depreciation1,1271,025Amortization of intangible assets1,0371,221Deferred income taxesStock-based compensationOther, net(2,475)(398)1,3951,2042271671,089946Changes in operating assets and liabilities, net of effects from acquisitions:Decrease in trade receivables, netDecrease in prepaid expenses and other assetsDecrease in accounts payable and other liabilitiesDecrease in income taxes payableDecrease in deferred revenuesNet cash provided by operating activitiesCash Flows From Investing Activities:Purchases of marketable securities and other )11,0459,525(26,775)(399)18,1823,165Proceeds from sales of marketable securities85312,575Acquisitions, net of cash 8)(13,935)9151,232Proceeds from maturities of marketable securities and other investmentsCapital expendituresNet cash (used for) provided by investing activitiesCash Flows From Financing Activities:Payments for repurchases of common stockProceeds from issuances of common stockShares repurchased for tax withholdings upon vesting of restricted stock-based awards(597)(624)Payments of dividends to stockholders(2,146)(2,330)Repayments of borrowingsOther, net(2,631)241(4,500)(108)(17,176)(20,265)Net cash used for financing activitiesEffect of exchange rate changes on cash and cash equivalentsNet (decrease) increase in cash and cash equivalentsCash and cash equivalents at beginning of period400(44)(14,918)3,31537,239 Cash and cash equivalents at end of period622,32120,514 23,829
ORACLE CORPORATIONQ3 FISCAL 2021 FINANCIAL RESULTSFREE CASH FLOW - TRAILING 4-QUARTERS (1)( in millions)Fiscal 2020Q1GAAP Operating Cash Flow Capital ExpendituresFree Cash Flow % Growth over prior yearGAAP Net IncomeFree Cash Flow as a % of Net Income Q2Fiscal 2021Q3Q413,829 13,796 13,947(1,663)(1,591)(1,544)12,166 12,205 12,403(12%)(11%)10,955 10,933 111%112% (6%)10,759115% Q1Q2Q3Q413,139 13,092 13,967 14,659(1,564)(1,614)(1,833)(1,851)11,575 11,478 12,134 12,808(10%)(6%)(1%)10,135 10,249 10,380 114%112%117%3%12,830100%(1) To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations.We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered inisolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.7
ORACLE CORPORATIONQ3 FISCAL 2021 FINANCIAL RESULTSSUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1)( in millions)Q1REVENUES BY OFFERINGSCloud services and license supportCloud license and on-premise licenseHardwareServicesTotal revenues AS REPORTED REVENUE GROWTH RATESCloud services and license supportCloud license and on-premise licenseHardwareServicesTotal revenuesFiscal 2020Q3Q26,805 8128157869,218 6,811 1,1268718069,614 Q4Q1TOTAL6,930 6,8451,2311,9598579017787359,796 10,440 27,3925,1273,4433,106 39,068 Fiscal 2021Q3Q26,947 8868147209,367 7,112 7,2521,0921,2768448207527379,800 10,085Q4TOTAL 21,3113,2542,4782,209 (8%)1%2%0%(6%)(8%)0%3%1%(3%)(8%)1%2,704 4,1016,805 2,753 4,0586,811 2,809 4,1216,930 2,7494,0966,845 11,01516,377 27,3922,816 4,1316,947 2,901 4,2117,112 AS REPORTED REVENUE GROWTH RATESApplications cloud services and license supportInfrastructure cloud services and license supportTotal cloud services and license support 5%4%5%5%3%4%CONSTANT CURRENCY REVENUE GROWTH RATES (2)Applications cloud services and license supportInfrastructure cloud services and license supportTotal cloud services and license support 3%2%2%4%2%3%5,150 2,5531,5159,218 5,304 2,6951,6159,614 5,363 5,7462,8352,9521,5981,7429,796 10,440 21,56311,0356,470 39,0685,259 5,4242,8522,9811,6891,6809,800 10,085 15,7518,5714,930 29,252CONSTANT CURRENCY REVENUE GROWTH RATES (2)Cloud services and license supportCloud license and on-premise licenseHardwareServicesTotal revenuesCLOUD SERVICES AND LICENSE SUPPORT REVENUESBY ECOSYSTEMApplications cloud services and license supportInfrastructure cloud services and license supportTotal cloud services and license support revenuesGEOGRAPHIC REVENUESAmericasEurope/Middle East/AfricaAsia PacificTotal revenues 5,068 2,7381,5619,367 2,9524,3007,252 8,66912,642 21,311(1) The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding.(2) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework forassessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results forentities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2020 and 2019 for the fiscal 2021 and fiscal2020 constant currency growth rate calculations presented, respectively,
students in 207 schools. To replace an Infor Lawson system, the Denver Public Schools' leadership considered Infor, Oracle, and SAP systems. The District chose Oracle Fusion Cloud ERP, HCM and EPM to help them streamline and automate back-office business processes, model and plan across finance and HR, control costs, and drive better decisions.
