Oracle shares jumped 6% in after-hours trading following the company’s revised fiscal 2026 revenue forecast and an ambitious long-term outlook for fiscal 2029.
During an analyst meeting at the Oracle CloudWorld conference in Las Vegas, the software giant announced it now expects at least $66 billion in revenue for fiscal 2026, surpassing analysts’ predictions of $64.5 billion.
This upward revision on Thursday follows a strong performance by Oracle, whose shares have gained 15% over the past three trading days and are now up 55% year-to-date, second only to Nvidia among large-cap tech firms. Oracle’s stock surged after it reported better-than-expected quarterly earnings earlier in the week.
Looking further ahead, Oracle forecasted over $104 billion in revenue for fiscal 2029, coupled with annual earnings-per-share growth of 20%. CEO Safra Catz expressed confidence in meeting these targets, citing strategic partnerships with cloud providers like Amazon, Google, and Microsoft, which allow customers to access Oracle’s database software through these platforms.
Oracle’s cloud infrastructure business is growing rapidly, with a 45% increase in revenue in the last quarter—outpacing major competitors like Amazon Web Services, Google Cloud, and Microsoft Azure. The company also announced it is expanding its presence in the artificial intelligence sector. Oracle recently began taking orders for over 131,000 Nvidia Blackwell graphics processing units, positioning the company to capitalize on AI-related demand.
To support its growth ambitions, Oracle plans to double its capital expenditures in fiscal 2025. Doug Kehring, Oracle’s executive vice president of corporate operations, emphasized that while the company remains focused on profitability, it will prioritize revenue growth over the next five years. Oracle also aims to accelerate profitability, targeting a 45% operating margin by fiscal 2029.
With input from Fortune, CNBC, Market Watch.
