Safra Catz, CEO of Oracle Corp., walks onto the ground of the New York Stock Exchange as Oracle rings the opening bell to have a good time the tenth anniversary of its listing on the New York Stock Exchange on July 12, 2023.
Spencer Platt |
oracle Shares rose about 6% in prolonged trading on Thursday after the database software maker raised its fiscal 2026 revenue forecast and gave an upbeat forecast for fiscal 2029.
At an analyst meeting held similtaneously Oracle’s CloudWorld conference in Las Vegas, the corporate said it now expects revenue of at the least $66 billion for fiscal 12 months 2026. Analysts surveyed by LSEG had expected $64.5 billion.
Oracle’s good week continues. Shares have gained about 15 percent over the past three trading sessions and are trading at record levels after the corporate announced quarterly results that beat expectations. The stock is now up 55 percent for the 12 months, behind only Nvidia amongst the foremost technology corporations.
Oracle also sometimes makes forecasts several years prematurely. The company said Thursday that it expects revenue for fiscal 2029 to top $104 billion and earnings per share to rise 20% from a 12 months ago.
“These numbers should not be a problem. Not at all,” CEO Safra Catz said on the event, pointing to partnerships that allow corporations to make use of Oracle database software through best-in-class cloud providers. Amazon, Google And MicrosoftOracle announced the collaboration with Amazon on Monday.
The company’s cloud infrastructure revenue grew 45% last quarter, faster than Amazon, Google or Microsoft.
Not only can Oracle generate more revenue when corporations move their workloads from their data centers to the cloud, nevertheless it also has the chance to grow in the world of ​​artificial intelligence. On Wednesday, Oracle announced said its rival cloud unit has begun taking orders for a cluster of over 131,000 next-generation “Blackwell” graphics processors NVIDIA.
As Oracle plans to expand its revenue, Catz expects capital expenditures to double in the present fiscal 12 months 2025.
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