Oracle CEO Safra Catz walks on the floor of the New York Stock Exchange on July 12, 2023, as Oracle rang the opening bell to celebrate its 10th anniversary on the New York Stock Exchange .
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Oracle Shares were up about 6% in after-hours trading Thursday after the database software maker raised its fiscal 2026 revenue guidance and issued an exciting forecast for fiscal 2029.
In an analyst meeting held in conjunction with the Oracle CloudWorld conference in Las Vegas, the company said it now expects revenue of at least $66 billion in fiscal 2026. Analysts polled by London Stock Exchange Group (LSEG) expected the figure to be $64.5 billion.
Oracle’s good fortune continues. The company’s shares have risen about 15% over the past three trading days and hit a record high after the company reported quarterly results. Exceeded expectations. The stock has gained 55% this year, second only to Nvidia among large technology companies.
Oracle also sometimes provides guidance years later. The company said on Thursday that looking forward to fiscal 2029, it expects revenue to exceed $104 billion and earnings per share to grow 20% from the same period last year.
“These numbers shouldn’t be an issue at all,” CEO Safra Catz said at the event. She noted that the partnership will allow the company to use Oracle database software through top cloud providers Amazon, Google and Microsoft. Oracle announced its partnership with Amazon on Monday.
The company’s cloud infrastructure revenue grew 45% in the latest quarter, faster than Amazon, Google or Microsoft.
In addition to generating more revenue, Oracle has the opportunity to grow in artificial intelligence as companies move workloads from data centers to the cloud. Wednesday, Oracle explain Its competing cloud division has begun taking orders for more than 131,000 next-generation “Blackwell” graphics processing unit clusters NVIDIA.
Catz said she expects capital spending to double in fiscal 2025 as Oracle plans to expand revenue.
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