Oracle Announces Record Q4 and FY 2026 Results Driven by Cloud Infrastructure & Cloud Applications

 ORACLE  CORPORATION 

 Q4 FISCAL 2026 FINANCIAL RESULTS 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)

Three Months Ended May 31,

% Increase

% Increase

(Decrease)

2026

% of 

2025

% of 

(Decrease)

in Constant

Revenues

Revenues

in US $

Currency (1)

REVENUES

Cloud

$            9,913

52 %

$            6,737

43 %

47 %

46 %

Software

6,824

35 %

6,968

44 %

(2 %)

(3 %)

Hardware

924

5 %

850

5 %

9 %

7 %

Services

1,523

8 %

1,348

8 %

13 %

12 %

      Total revenues

19,184

100 %

15,903

100 %

21 %

20 %

OPERATING EXPENSES

Cloud and software

5,224

27 %

3,343

21 %

56 %

56 %

Hardware

293

2 %

252

2 %

16 %

13 %

Services

1,155

6 %

1,145

7 %

1 %

0 %

Sales and marketing

2,068

11 %

2,306

15 %

(10 %)

(12 %)

Research and development 

2,613

14 %

2,654

17 %

(2 %)

(1 %)

General and administrative

444

2 %

467

3 %

(5 %)

(5 %)

Amortization of intangible assets

431

2 %

544

3 %

(21 %)

(21 %)

Restructuring and other

823

4 %

83

0 %

899 %

901 %

      Total operating expenses 

13,051

68 %

10,794

68 %

21 %

20 %

OPERATING INCOME

6,133

32 %

5,109

32 %

20 %

18 %

Interest expense

(1,438)

(8 %)

(978)

(6 %)

47 %

47 %

Non-operating income, net

675

4 %

20

0 %

*

*

INCOME BEFORE INCOME TAXES

5,370

28 %

4,151

26 %

29 %

27 %

Provision for income taxes

1,066

6 %

724

4 %

47 %

45 %

NET INCOME

$            4,304

22 %

$            3,427

22 %

26 %

23 %

Preferred stock dividends

81

–

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

$            4,223

$            3,427

EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS:

Basic

$              1.47

$              1.22

Diluted

$              1.45

$              1.19

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,878

2,805

Diluted

2,915

2,871

(1)

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 our underlying 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 than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the three months ended May 31, 2026 compared with the corresponding prior year period increased our total revenues by 1 percentage point, total operating expenses by 1 percentage point and operating income by 2 percentage points.

*

Not meaningful

ORACLE  CORPORATION

Q4 FISCAL 2026 FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Three Months Ended May 31,

% Increase
(Decrease)
in US $

% Increase
(Decrease)
in Constant
Currency (2) 

2026

2026

2025

2025

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       19,184

$             –

$       19,184

$       15,903

$             –

$       15,903

21 %

21 %

20 %

20 %

TOTAL OPERATING EXPENSES

$       13,051

$    (2,457)

$       10,594

$       10,794

$    (1,926)

$         8,868

21 %

19 %

20 %

19 %

     Stock-based compensation (3)

1,203

(1,203)

–

1,299

(1,299)

–

(7 %)

*

(7 %)

*

     Amortization of intangible assets (4)

431

(431)

–

544

(544)

–

(21 %)

*

(21 %)

*

     Restructuring and other

823

(823)

–

83

(83)

–

899 %

*

901 %

*

OPERATING INCOME

$         6,133

$     2,457

$         8,590

$         5,109

$     1,926

$         7,035

20 %

22 %

18 %

21 %

OPERATING MARGIN %

32 %

45 %

32 %

44 %

(16) bp.

54 bp.

(42) bp.

44 bp.

INCOME TAX EFFECTS (5)

$         1,066

$        527

$         1,593

$            724

$        472

$         1,196

47 %

33 %

45 %

32 %

NET INCOME

$         4,304

$     1,930

$         6,234

$         3,427

$     1,454

$         4,881

26 %

28 %

23 %

26 %

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

$         4,223

$     1,930

$         6,153

$         3,427

$     1,454

$         4,881

23 %

26 %

21 %

25 %

DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS

$           1.45

$           2.11

$           1.19

$           1.70

21 %

24 %

19 %

23 %

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,915

–

2,915

2,871

–

2,871

2 %

2 %

2 %

2 %

(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 with our 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 our underlying 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 than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. 

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Three Months Ended

Three Months Ended

May 31, 2026

May 31, 2025

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud and software

$            144

$      (144)

$               –

$            150

$      (150)

$               –

     Hardware

6

(6)

–

7

(7)

–

     Services

52

(52)

–

52

(52)

–

     Sales and marketing

185

(185)

–

200

(200)

–

     Research and development

705

(705)

–

737

(737)

–

     General and administrative

111

(111)

–

153

(153)

–

           Total stock-based compensation

$         1,203

$   (1,203)

$               –

$         1,299

$   (1,299)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2026 was as follows:

     Fiscal 2027

$            731

     Fiscal 2028

694

     Fiscal 2029

620

     Fiscal 2030

582

     Fiscal 2031

377

     Thereafter

225

           Total intangible assets, net

$         3,229

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 19.8% and 17.5% in the fourth quarter of fiscal 2026 and 2025, respectively, and an effective non-GAAP tax rate of 20.4% and 19.7% in the fourth quarter of fiscal 2026 and 2025, respectively. The difference in our GAAP and non-GAAP tax rates in each of the fourth quarters of fiscal 2026 and 2025 was primarily due to the net tax effects related to stock-based compensation expense, restructuring and other expense, including the tax effects on amortization of intangible assets, and, final remeasurement impact of the U.S. One, Big, Beautiful Bill Act primarily related to the remeasurement of a deferred tax liability previously recorded during 2021, as part of our legal entity structure, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*  

Not meaningful

 

ORACLE  CORPORATION 

 FISCAL 2026 YEAR TO DATE FINANCIAL RESULTS 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

($ in millions, except per share data)

Year Ended May 31,

% Increase

% Increase

(Decrease)

2026

% of 

2025

% of 

(Decrease)

in Constant

Revenues

Revenues

in US $

Currency (1)

REVENUES

Cloud

$         33,989

51 %

$         24,506

43 %

39 %

37 %

Software

24,541

36 %

24,724

43 %

(1 %)

(3 %)

Hardware

3,084

5 %

2,936

5 %

5 %

3 %

Services

5,743

8 %

5,233

9 %

10 %

8 %

      Total revenues

67,357

100 %

57,399

100 %

17 %

16 %

OPERATING EXPENSES

Cloud and software

17,597

26 %

11,569

20 %

52 %

51 %

Hardware

868

1 %

782

1 %

11 %

8 %

Services

4,556

7 %

4,576

8 %

0 %

(2 %)

Sales and marketing

8,331

12 %

8,651

15 %

(4 %)

(5 %)

Research and development 

10,272

15 %

9,860

17 %

4 %

4 %

General and administrative

1,618

2 %

1,602

3 %

1 %

0 %

Amortization of intangible assets

1,671

3 %

2,307

4 %

(28 %)

(28 %)

Restructuring and other

1,838

3 %

374

1 %

391 %

384 %

      Total operating expenses 

46,751

69 %

39,721

69 %

18 %

17 %

OPERATING INCOME 

20,606

31 %

17,678

31 %

17 %

13 %

Interest expense

(4,599)

(7 %)

(3,578)

(6 %)

29 %

29 %

Non-operating income, net

3,547

5 %

60

0 %

*

*

INCOME BEFORE INCOME TAXES

19,554

29 %

14,160

25 %

38 %

33 %

Provision for income taxes (2)

2,467

4 %

1,717

3 %

44 %

39 %

NET INCOME 

$          17,087

25 %

$          12,443

22 %

37 %

32 %

Preferred stock dividends

103

–

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

$          16,984

$          12,443

EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS:

Basic

$              5.94

$              4.46

Diluted

$              5.83

$              4.34

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,860

2,789

Diluted

2,914

2,866

(1)

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 our underlying 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 than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the year ended May 31, 2026 compared with the corresponding prior year period increased our total revenues by 1 percentage point, total operating expenses by 1 percentage point and operating income by 4 percentage points.

(2)

Provision for income taxes for the year ended May 31, 2026 includes the impact of the U.S. One, Big, Beautiful Bill Act, which was signed into law on July 4, 2025.

*  

Not meaningful

ORACLE  CORPORATION

FISCAL 2026 YEAR TO DATE FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Year Ended May 31,

% Increase
(Decrease)
in US $

% Increase
(Decrease)
in Constant
Currency (2) 

2026

2026

2025

2025

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       67,357

$             –

$       67,357

$       57,399

$             –

$       57,399

17 %

17 %

16 %

16 %

TOTAL OPERATING EXPENSES

$       46,751

$    (8,320)

$       38,431

$       39,721

$    (7,355)

$       32,366

18 %

19 %

17 %

17 %

     Stock-based compensation (3)

4,811

(4,811)

–

4,674

(4,674)

–

3 %

*

3 %

*

     Amortization of intangible assets (4)

1,671

(1,671)

–

2,307

(2,307)

–

(28 %)

*

(28 %)

*

     Restructuring and other

1,838

(1,838)

–

374

(374)

–

391 %

*

384 %

*

OPERATING INCOME

$       20,606

$     8,320

$       28,926

$       17,678

$     7,355

$       25,033

17 %

16 %

13 %

13 %

OPERATING MARGIN %

31 %

43 %

31 %

44 %

(21) bp.

(67) bp.

(68) bp.

(93) bp.

INCOME TAX EFFECTS (5)

$         2,467

$     3,070

$         5,537

$         1,717

$     2,514

$         4,231

44 %

31 %

39 %

28 %

NET INCOME 

$       17,087

$     5,250

$       22,337

$       12,443

$     4,841

$       17,284

37 %

29 %

32 %

26 %

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS

$       16,984

$     5,250

$       22,234

$       12,443

$     4,841

$       17,284

36 %

29 %

32 %

26 %

DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS

$           5.83

$           7.63

$           4.34

$           6.03

34 %

27 %

30 %

24 %

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,914

–

2,914

2,866

–

2,866

2 %

2 %

2 %

2 %

(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 with our 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 our underlying 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 than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Year Ended

Year Ended

May 31, 2026

May 31, 2025

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud and software

$            622

$      (622)

$               –

$            609

$      (609)

$               –

     Hardware

27

(27)

–

29

(29)

–

     Services

210

(210)

–

202

(202)

–

     Sales and marketing

759

(759)

–

757

(757)

–

     Research and development

2,805

(2,805)

–

2,638

(2,638)

–

     General and administrative

388

(388)

–

439

(439)

–

           Total stock-based compensation

$         4,811

$   (4,811)

$               –

$         4,674

$   (4,674)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2026 was as follows:

     Fiscal 2027

$            731

     Fiscal 2028

694

     Fiscal 2029

620

     Fiscal 2030

582

     Fiscal 2031

377

     Thereafter

225

           Total intangible assets, net

$         3,229

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 12.6% and 12.1% in fiscal 2026 and 2025, respectively, and an effective non-GAAP tax rate of 19.9% and 19.7% in fiscal 2026 and 2025, respectively. The difference in our GAAP and non-GAAP tax rates in each of fiscal 2026 and 2025 was primarily due to the net tax effects related to stock-based compensation expense; and restructuring and other expense, including the tax effects on amortization of intangible assets, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure; and, for fiscal 2026, the impact of the U.S. One, Big, Beautiful Bill Act (refer to Appendix A for additional information).

*  

Not meaningful

ORACLE  CORPORATION

FISCAL 2026 FINANCIAL RESULTS

CONDENSED CONSOLIDATED BALANCE SHEETS

($ in millions)

May 31,

May 31,

2026

2025

ASSETS

Current Assets:

Cash and cash equivalents

$               31,289

$               10,786

Marketable securities

605

417

Trade receivables, net

10,385

8,558

Prepaid expenses and other current assets

4,288

4,818

Total Current Assets

46,567

24,579

Non-Current Assets:

   Property, plant and equipment, net

99,957

43,522

   Operating lease right-of-use assets

29,690

13,145

   Goodwill

62,261

62,207

   Deferred tax assets

11,541

11,877

   Other non-current assets

11,743

13,031

Total Non-Current Assets

215,192

143,782

TOTAL ASSETS

$            261,759

$            168,361

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Notes payable and other borrowings, current 

$                 7,199

$                 7,271

Accounts payable

10,977

5,113

Accrued compensation and related benefits

2,225

2,243

Deferred revenues

9,916

9,387

Other current liabilities

11,447

8,629

Total Current Liabilities

41,764

32,643

Non-Current Liabilities:

Notes payable and other borrowings, non-current

122,342

85,297

Income taxes payable

11,771

10,269

Operating lease liabilities

26,648

11,536

Other non-current liabilities

16,178

7,647

Total Non-Current Liabilities

176,939

114,749

Stockholders’ Equity

43,056

20,969

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$            261,759

$            168,361

     ORACLE  CORPORATION 

FISCAL 2026 FINANCIAL RESULTS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

($ in millions)

Year Ended May 31,

2026

2025

Cash Flows From Operating Activities:

Net income 

$      17,087

$      12,443

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

7,623

3,867

Amortization of intangible assets

1,671

2,307

Deferred income taxes

(917)

(1,637)

Stock-based compensation

4,811

4,674

Gains from investments and other, net

(2,433)

667

Changes in operating assets and liabilities:

Increase in trade receivables, net

(2,190)

(653)

Decrease in prepaid expenses and other assets

2,179

266

Decrease in accounts payable and other liabilities

(240)

(608)

Decrease in income taxes payable

(256)

(659)

Increase in deferred revenues from customer prepayments with significant financing component

4,592

–

Increase in other deferred revenues

50

154

Net cash provided by operating activities

31,977

20,821

Cash Flows From Investing Activities:

Purchases of marketable securities and other investments

(2,039)

(1,272)

Proceeds from sales and maturities of marketable securities and other investments

5,848

776

Capital expenditures

(55,663)

(21,215)

Net cash used for investing activities

(51,854)

(21,711)

Cash Flows From Financing Activities:

Proceeds from issuances of common stock

1,449

653

Payments for repurchases of common stock

(95)

(600)

Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(111)

(900)

Proceeds from issuances of mandatory convertible preferred stock, net of issuance costs

4,954

–

Payments of dividends to stockholders

(5,787)

(4,743)

(Repayments of) proceeds from issuances of commercial paper, net

(2,285)

1,889

Proceeds from short-term financing related to capital expenditures, net

3,345

1,422

Proceeds from issuances of senior notes, term loan credit agreements and other borrowings, net of issuance costs

46,093

19,548

Repayments of senior notes, term loan credit agreements and other borrowings

(6,942)

(15,841)

Other financing activities, net

(337)

(330)

Net cash provided by financing activities

40,284

1,098

Effect of exchange rate changes on cash and cash equivalents

96

124

Net increase in cash and cash equivalents

20,503

332

Cash and cash equivalents at beginning of period

10,786

10,454

Cash and cash equivalents at end of period

$      31,289

$      10,786

 ORACLE  CORPORATION 

 FISCAL 2026 FINANCIAL RESULTS 

 FREE CASH FLOW – TRAILING FOUR-QUARTERS (1) 

 ($ in millions) 

 Fiscal 2025 

 Fiscal 2026 

 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 

GAAP Operating Cash Flow

$            19,126

$            20,287

$            20,745

$            20,821

$            21,534

$            22,296

$            23,514

$            31,977

Capital Expenditures

(7,855)

(10,745)

(14,933)

(21,215)

(27,414)

(35,477)

(48,250)

(55,663)

Free Cash Flow

$            11,271

$               9,542

$               5,812

$                (394)

$             (5,880)

$           (13,181)

$           (24,736)

$           (23,686)

Operating Cash Flow % Growth over prior year

8 %

19 %

14 %

12 %

13 %

10 %

13 %

54 %

Free Cash Flow % Growth over prior year

19 %

(6 %)

(53 %)

*

*

*

*

*

GAAP Net Income

$            10,976

$            11,624

$            12,160

$            12,443

$            12,441

$            15,425

$            16,210

$            17,087

Operating Cash Flow as a % of Net Income

174 %

175 %

171 %

167 %

173 %

145 %

145 %

187 %

Free Cash Flow as a % of Net Income

103 %

82 %

48 %

(3 %)

(47 %)

(85 %)

(153 %)

(139 %)

(1)

To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing four-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 in isolation 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.

*

Not meaningful

 ORACLE  CORPORATION 

 FISCAL 2026 FINANCIAL RESULTS 

 NET CASH OUTLAY FOR CAPITAL EXPENDITURES – TRAILING FOUR-QUARTERS (1) 

 ($ in millions) 

 Fiscal 2025 

 Fiscal 2026 

 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 

Capital Expenditures

$             (7,855)

$           (10,745)

$           (14,933)

$           (21,215)

$           (27,414)

$           (35,477)

$           (48,250)

$           (55,663)

Less: Other Short-Term Financing Cash Flow Related
to Capital Expenditures (2)

–

–

–

1,422

3,380

2,620

4,089

3,345

Less: Customer Prepayments with Significant Financing
Component for Capital Expenditures (3)

–

–

–

–

–

–

–

4,592

Net Cash Outlay for Capital Expenditures

$             (7,855)

$           (10,745)

$           (14,933)

$           (19,793)

$           (24,034)

$           (32,857)

$           (44,161)

$           (47,726)

(1)

To supplement our cash flow for capital expenditures presented in our statements of cash flows in accordance with GAAP, we provide net cash outlay for capital expenditures on a trailing four-quarter basis. Net cash outlay for capital expenditures is defined as capital expenditures, less (1) other short-term financing cash flow related to capital expenditures and (2) customer prepayments with significant financing component for capital expenditures. We believe this supplemental presentation of net cash outlay for capital expenditures is useful because it provides additional information about the cash requirement for funding of our capital expenditures and is used by management when forecasting expected capital expenditures.

(2)

Represents other short-term financing cash flows related to capital expenditures as reported in cash flows from financing activities in our statements of cash flows. We use third-party manufacturing partners to produce most of our cloud infrastructure assets and in some cases supply them with components purchased directly from suppliers. Certain of these arrangements result in a portion of the cash received from and paid to third-party manufacturers presented within financing activities in our statements of cash flows.

(3)

Represents customer prepayments with significant financing component as reported in cash flows from operating activities in our cash flow statements presented in accordance with GAAP.

 ORACLE  CORPORATION 

 FISCAL 2026 FINANCIAL RESULTS 

 SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) 

 ($ in millions) 

 Fiscal 2025 

 Fiscal 2026 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

REVENUES BY OFFERINGS

 Cloud 

$    5,623

$    5,937

$    6,210

$    6,737

$   24,506

$    7,186

$    7,977

$    8,914

$    9,913

$   33,989

 Software license 

870

1,195

1,129

2,007

5,201

766

939

1,150

1,881

4,737

 Software support 

4,896

4,869

4,797

4,961

19,523

4,955

4,938

4,969

4,943

19,804

 Software 

5,766

6,064

5,926

6,968

24,724

5,721

5,877

6,119

6,824

24,541

 Hardware 

655

728

703

850

2,936

670

776

714

924

3,084

 Services  

1,263

1,330

1,291

1,348

5,233

1,349

1,428

1,443

1,523

5,743

                       Total revenues 

$  13,307

$  14,059

$  14,130

$  15,903

$   57,399

$  14,926

$  16,058

$  17,190

$  19,184

$   67,357

AS REPORTED REVENUE GROWTH RATES 

 Cloud 

21 %

24 %

23 %

27 %

24 %

28 %

34 %

44 %

47 %

39 %

 Software license 

7 %

1 %

(10 %)

9 %

2 %

(12 %)

(21 %)

2 %

(6 %)

(9 %)

 Software support 

0 %

0 %

(2 %)

1 %

0 %

1 %

1 %

4 %

0 %

1 %

 Software 

1 %

0 %

(4 %)

3 %

0 %

(1 %)

(3 %)

3 %

(2 %)

(1 %)

 Hardware 

(8 %)

(4 %)

(7 %)

1 %

(4 %)

2 %

7 %

2 %

9 %

5 %

 Services  

(9 %)

(3 %)

(1 %)

(2 %)

(4 %)

7 %

7 %

12 %

13 %

10 %

                Total revenues 

7 %

9 %

6 %

11 %

8 %

12 %

14 %

22 %

21 %

17 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

 Cloud 

22 %

24 %

25 %

27 %

24 %

27 %

33 %

41 %

46 %

37 %

 Software license 

8 %

3 %

(8 %)

8 %

3 %

(13 %)

(23 %)

(2 %)

(6 %)

(10 %)

 Software support 

0 %

0 %

0 %

0 %

0 %

(1 %)

0 %

0 %

(1 %)

(1 %)

 Software 

1 %

0 %

(2 %)

2 %

1 %

(2 %)

(5 %)

(1 %)

(3 %)

(3 %)

 Hardware  

(8 %)

(3 %)

(5 %)

0 %

(4 %)

1 %

5 %

(2 %)

7 %

3 %

 Services  

(8 %)

(3 %)

1 %

(2 %)

(3 %)

5 %

6 %

8 %

12 %

8 %

                Total revenues 

8 %

9 %

8 %

11 %

9 %

11 %

13 %

18 %

20 %

16 %

CLOUD REVENUES BY OFFERINGS

 Cloud applications 

$    3,469

$    3,503

$    3,558

$    3,742

$   14,272

$    3,839

$    3,898

$    4,026

$    4,126

$   15,888

 Cloud infrastructure 

2,154

2,434

2,652

2,995

10,234

3,347

4,079

4,888

5,787

18,101

                       Total cloud revenues 

$    5,623

$    5,937

$    6,210

$    6,737

$   24,506

$    7,186

$    7,977

$    8,914

$    9,913

$   33,989

AS REPORTED REVENUE GROWTH RATES 

 Cloud applications 

10 %

10 %

9 %

12 %

10 %

11 %

11 %

13 %

10 %

11 %

 Cloud infrastructure 

45 %

52 %

49 %

52 %

50 %

55 %

68 %

84 %

93 %

77 %

                       Total cloud revenues 

21 %

24 %

23 %

27 %

24 %

28 %

34 %

44 %

47 %

39 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

 Cloud applications 

10 %

10 %

10 %

11 %

10 %

10 %

11 %

11 %

9 %

10 %

 Cloud infrastructure 

46 %

52 %

51 %

52 %

51 %

54 %

66 %

81 %

92 %

75 %

                       Total cloud revenues 

22 %

24 %

25 %

27 %

24 %

27 %

33 %

41 %

46 %

37 %

GEOGRAPHIC REVENUES

 Americas 

$    8,372

$    8,933

$    9,000

$  10,034

$   36,339

$    9,662

$  10,467

$  11,361

$  12,988

$   44,478

 Europe/Middle East/Africa 

3,228

3,381

3,421

3,996

14,025

3,481

3,760

3,964

4,093

15,297

 Asia Pacific 

1,707

1,745

1,709

1,873

7,035

1,783

1,831

1,865

2,103

7,582

                      Total revenues 

$  13,307

$  14,059

$  14,130

$  15,903

$   57,399

$  14,926

$  16,058

$  17,190

$  19,184

$   67,357

(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 for assessing how our underlying 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 than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025 and 2024 for the fiscal 2026 and fiscal
           2025 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during the respective periods.