Oracle Corporation (NYSE:ORCL) Q4 2017 Earnings Conference Call Transcript
Jun 21, 2017 • 05:00 pm ET
Welcome to Oracle's Fourth Quarter 2017 Earnings Conference Call. Now, I'd like to turn today's call over to Ken Bond, Senior Vice President.
Thank you, Kimberly. Good afternoon, everyone and welcome to Oracle's fourth quarter and fiscal year 2017 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 Chairman and Chief Technology Officer, Larry Ellison; and CEOs, Safra Catz and Mark Hurd.
(Forward-Looking Cautionary Statements)
Before we take questions, we will begin with a few prepared remarks. And with that, I'd like to turn the call over to Safra.
Thanks, Ken. Good afternoon, everyone. As you can see, we had a tremendous quarter in just about every way, as cloud revenue, new software license and earnings were all much better than expected. The adoption by our customers of our products and services is at an all-time high.
But before going into more detail about Q4, you can also see that we have made significant improvement in our financial reporting to align with how we are running the business now. The cloud has become our predominant growth vehicle. As you can see in our press release supplemental pages, we have given you tons of detail. We have given you the detail in our new presentation format and we have also provided the reporting in our old format, going back through fiscal 2016 and 2017. So, you can see the numbers the new way, the old way, all including history to help your transition this quarter.
I will first walk you through the reporting changes, then go over to Q4 results using the new format and recap Q4 using the old format for comparability to my previous guidance. Then, I will sum up fiscal year 2017 results using the new additional detail before moving on to my guidance for Q1. So, please be patient as I am going to be giving you a lot in numbers today. But as I said, it's all in the press release tables that are on file. So, you don't have to catch every number. After all that, I will turn the call over to Larry and then Mark for their comments.
In making these reporting changes, we are now reporting SaaS revenue separately, as our tremendous growth resulted in SaaS revenue crossing the $1 billion a quarter threshold in Q4, having grown 76% in constant currency. We have also combined platform and Infrastructure-as-a-Service as the synergies and cross-selling between these two businesses is very high and this is also how we are measuring our internal organization.
On Page 10, you can see GAAP applications revenue, which is SaaS and on-premise application software revenues. And further down the page GAAP platform and infrastructure revenues, which is PaaS and IaaS and on-premise revenues. For hardware, we have gone ahead and consolidated hardware products and hardware support into a single