Oracle Corporation (NASDAQ:ORCL) recently reported its first quarter earnings and discussed the following topics in its earnings conference call.
John DiFucci – JPMorgan: Mark, you mentioned the strength in database and it’s reflected in license, but it’s also I think reflected in margins this quarter. And you mentioned – and I was thinking, it’s really too early for 12c to be having much of an impact on the numbers anyway. You mentioned Options, Enterprise Manager. I guess the question is why this strength right now in Database and how does this business look as you look forward, the core Database with Options?
Mark Hurd – President: Yes, the interesting thing, John, first is we not only had good growth in Database, but we also had growth Database in the U.S., so it was very strong. It’s exactly what you described. First, it was broad-based across the regions, even with a strong showing in the U.S. and it was really the Options. And again, as you start dealing with some of the issues you see in the market, take for example something as simple as the data growth that you all hear in the industry; 30%, 40% data growth that our customers talk about. The ability for us to compress that data is a tremendous opportunity and it’s an option that you can get advanced compression, you can get Exadata that dramatically changes our customer’s total cost of ownership. So we had good growth really across regions particularly strong in the U.S. particularly strong in Options, GoldenGate was very strong. We had good growth in rack, active data in-memory caching, security was I mentioned this I think last quarter too we had very strong growth again in security and these are, these are turning to be material businesses, John. And I think this is not really the – I would not call any of this really any significant impact from 12c. This is really just the core data that is in the Options around the core database.
John DiFucci – JPMorgan: You mentioned Exadata. So that sounds like sort of that Exadata pulls along some of these options, that’s having an effect here?
Mark Hurd – President: It’s all part of one story. John in the context of, we’ve got so much database out there, leads you to drive more performance, more security drive more compression. You can get a lot of it with the Database as a product. You can get even more of it when you buy Exadata and so it’s strong value proposition.
John DiFucci – JPMorgan: If I might just one quick one for Safra. Safra the guidance you gave is a little bit below where the Street is right now. You mentioned you talk about the exciting pipelines that seems to works. But you also talked about managed, the sales people or sales managers being, I don’t know what word you used, but it sounded like being prudent. I guess in the past you sometimes gauged what that guidance is. Do you think that that is something, the guidance you’ve given, is it similar to their conservatism that is prudent that you normally give, is it little more conservative or less if you can comment on that?
Safra A. Catz – President and CFO: As I always say to you all. I read the same newspapers or read the website that you all do and there is a lot of news out there whether it is coming out from our own government or from Europe and that influences what we put as a backdrop for our forecast. And today was a big news day in both directions and so, we’re just trying to I think everybody is just trying to say a little bit, to have a little bit of room and we could do significantly better. But we still even though our pipelines are big, we still have to close all those deals and I just can’t assume that we will. So, try to just be reasonable about it, be conservative about it but I just need to take into account a lot of different inputs and I think we that’s where the guidance range is.
Raimo Lenschow – Barclays Capital: I just had a very topical one you guys had a conference call with Salesforce a few weeks ago that focused on joining the different cloud. A few minutes ago we had a call from two cloud vendors that went to the ones who were closer together going forward, can you talk maybe a little bit about this new environment of vendors having to pre-integrate their cloud products? And also maybe go on a little about Fusion it’s a more complete solution than what others have, how is that done and how does that fit into the new road here? Thank you.
Safra A. Catz – President and CFO: So, first of all, I think that what you are seeing is that, in fact, customers want systems that are integrated, and that, I think, works to our advantage. And it’s significantly easier obviously to have very integrated and very seamless integration when you own all the products as we do for those customers that have mixed environment, especially a large installed base of one of our competitors. The big benefit, of course, in working with that is that it’s all based on our technology. I think it gets significantly harder when you are talking about almost random companies who are trying to make the experience seamless when their systems are so very, very different; the definition, the underlying platforms are very, very different. For us, we view this as a huge benefit towards us and we think it’s actually powering the strength of Fusion and the interest in Fusion as – because Fusion actually has a second piece to it, which is it integrates not only all of our application work together in Fusion, but they also work with all of their existing Oracle application in a way that if you – and Fusion itself can be deployed some on premise, if you’d like, and some in the cloud and back and forth in fact. So what you are seeing is customers wanting more choice, but better integration and we’re really the only one who have all the products and the depth and ability to deliver it in the cloud, in the public cloud, in a private cloud behind their firewall or on premise, which is truly about customer choice.