Oracle Corporation (NYSE:ORCL) Q4 2015 Earnings Conference Call Transcript
Jun 17, 2015 • 05:00 pm ET
Welcome to Oracle's fourth quarter 2015 earnings Call. As reminder, this call is being recorded for replay purposes. I'd now like to turn the call over to Ken Bond, Senior Vice President of Investor Relations.
Thank you, Holly. Good afternoon everyone, and welcome to Oracle's fourth quarter and fiscal year 2015 earnings conference call. 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.
On the call today are Executive Chairman and Chief Technology Officer, Larry Ellison; and CEOs, Safra Catz and Mark Hurd. (Forward-Looking Cautionary Statements) Before taking questions, we'll begin with some prepared remarks.
And with that, I'll turn the call over to Safra.
Thanks, Ken. I am going to focus on our non-GAAP results for Q4 and fiscal 2015. I will then review guidance for Q1 and then turn the call over to Larry and Mark for their comments. As you probably remember, I didn't provide US dollar guidance for Q4 given the unusually high volatility in exchange rate.
The currency headwinds ended up being higher than consensus estimates would reflect, with 8% to software and cloud revenue as well as the total company revenue, 9% for hardware revenue and $0.09 for earnings per share. Currencies continue to move significantly and remain unpredictable. So my comments today generally reflect constant dollar growth rate which is how we look at the business.
We are delighted with our results, with the most important thing being that we dramatically over-achieved in the cloud. This is the first Q4 where we had everything together for the cloud. We had the products that we've been working on for a decade, the operations, the sales force and the references with many, many happy customers. Having all that in place caused SaaS and PaaS bookings to grow more than 200%, our best ever growth rate for cloud bookings and more than $125 million higher than our own $300 million goal. For most companies, as their business grows, the growth rates go down. In our case, as the business grows, our growth rates are increasing.
So to the numbers, cloud SaaS and PaaS revenues were -- I am doing only non-GAAP -- were $419 million, up 34% from last year and well above the high end of my guidance. As our cloud bookings growth continues to accelerate so too will our cloud revenue growth. As I just said, bookings grew more than 200% further adding to the momentum which is helping drive SaaS and PaaS growth.
Now when you translate the $125 million higher from SaaS and PaaS to had it been historically our license business, it probably would have been about $375 million more in license and it would all have been booked immediately, not ratably over time. So for us this was actually fantastic news. When bookings ultimately turn into revenue depends of course on many factors but one thing is clear our