Oracle Corporation (NYSE:ORCL) Q2 2019 Earnings Conference Call - Final Transcript
Dec 17, 2018 • 05:00 pm ET
year and EPS will grow double digits for the year. And with that, I'm going to turn it over for Larry for his comments.
Thank you, Mark. Oracle has 2 strategic products that will determine the future of our company: Cloud ERP and the Autonomous Database. Virtually every technology analyst organization agrees: Gartner, Forrester, IDC and the rest. Please read the published reports that Oracle has developed the world's most advanced ERP technology. Featuring an easy-to-use voice interface and machine learning based artificial intelligence to automate many formerly manual ERP processes. But more than being simply the technology leader in ERP applications, the analyst also confirm that Oracle has translated that technology leadership into market leadership in cloud ERP with nearly 6,000 Fusion ERP customers plus more than 16,000 NetSuite customers and we are adding about 1,000 new cloud ERP customers every quarter.
Technology analysts also agree that Oracle's new Autonomous Database gives Oracle the largest technology lead we have ever enjoyed over our database competitors since we entered the database market almost 4 decades ago. As we pair our new Autonomous Database with our new Generation 2 Cloud infrastructure, we expect not only to hold onto our 50% database market share, we expect to increase it. That means millions of Oracle databases will move to the Oracle Cloud. Those are the 2 strategic initiatives that we are focused on. One, continue to expand our market leadership in cloud ERP, which should make us the world's largest cloud application company. And two, maintain our database technology leadership and migrate our 50% database market share to the Oracle Cloud. We're optimistic about our ability to deliver on these 2 strategic initiatives and our ability to be the leader in these 2 key market segments.
With that, I'll turn it back over to Safra.
Okay, so I think we're ready for questions.
We are ready for Q&A, Victoria.