Oracle Corp. CEO Safra Catz walks the floor of the New York Stock Exchange as the opening bell rings to celebrate the 10th anniversary of Oracle’s IPO on July 12, 2023.
Spencer Platt | Getty Images
Oracle Shares rose nearly 6% in extended trading on Thursday after the database software maker raised its revenue guidance for fiscal 2026 and issued a bullish forecast for fiscal 2029.
At an analyst meeting that coincided with the Oracle CloudWorld conference in Las Vegas, the company said it expects revenue of at least $66 billion in fiscal 2026. Analysts polled by LSEG had expected $64.5 billion.
Oracle’s good week continues. Shares have gained nearly 15% in the past three trading sessions and hit a record high after the company posted quarterly results that beat expectations. Shares are up 55% year-to-date, trailing only Nvidia among major tech companies.
Oracle sometimes provides guidance for several years. Looking ahead to fiscal 2029, the company said Thursday it expects to see revenue of more than $104 billion, along with a 20% year-over-year increase in earnings per share.
“These numbers should not be a problem. Absolutely,” CEO Safra Catz said at the event. He pointed to partnerships that will allow companies to use Oracle database software through top cloud providers Amazon, Google and Microsoft. Oracle announced its Amazon ties on Monday.
The company’s cloud infrastructure revenue grew 45% last quarter, faster than Amazon, Google or Microsoft.
As companies move workloads from data centers to the cloud, Oracle has a chance to thrive in the field of artificial intelligence, along with more revenue. On Wednesday, Oracle said its rival cloud division had begun taking orders for more than 131,000 next-generation “Blackwell” graphics processing units. Nvidia.
As Oracle plans to expand revenue, Catz said it expects capital spending to double in the current fiscal year of 2025.
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