Oracle shares rise on higher revenue forecast for fiscal year 2026

oracle Shares rose about 6% in extended 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 at the same time as Oracle's CloudWorld conference in Las Vegas, the company said it now expects revenue of at least $66 billion for fiscal year 2026. Analysts surveyed by LSEG had expected $64.5 billion.

Oracle's good week continues. Shares have gained about 15 percent over the last three trading sessions and are trading at record levels after the company announced quarterly results that beat expectations. The stock is now up 55 percent for the year, behind only Nvidia among the major technology companies.

Oracle also sometimes makes forecasts several years in advance. The company said Thursday that it expects revenue for fiscal 2029 to top $104 billion and earnings per share to rise 20% from a year ago.

“These numbers should not be a problem. Not at all,” CEO Safra Catz said at the event, pointing to partnerships that allow companies to use 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.

In addition to generating higher revenue as companies move their workloads from their data centers to the cloud, Oracle also has an opportunity to grow in the artificial intelligence space. On Wednesday, Oracle said its rival cloud unit had begun taking orders for a cluster of over 131,000 of Oracle's next-generation “Blackwell” graphics processors. NVIDIA.

As Oracle plans to expand its revenue, Catz expects capital expenditures to double in the current fiscal year 2025.

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