With cloud competition continuing to take a toll, Oracle's (ORCL) new software license revenue was flat Y/Y in FQ4 at $3.77B. Cloud app (SaaS) and app platform (PaaS) revenue rose 25% to $322M, and cloud infrastructure (IaaS) revenue 13% to $128M.
Altogether, new license/cloud revenue rose 2% Y/Y to $4.22B. Oracle had guided for 0%-10% new license/cloud subscription growth.
License update/product support revenue (stems from existing deals, relatively stable) rose 7% to $4.7B after growing 5% in FQ3. Hardware product sales +2% to $870M, near the low end of a 0%-10% guidance range. Hardware support +2% to $596M.
$2B was spent on buybacks, even with FQ3 and boosting EPS. GAAP opex +8% Y/Y - sales/marketing +6%, R&D +7%.