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Oracle CEO Safra Catz walks across the floor of the New York Stock Exchange as the company rings the opening bell to mark the 10th anniversary of its listing on the NYSE on July 12, 2023.
Spencer Pratt | Getty Images
Oracle The company’s shares rose about 6% in after-hours trading on Thursday after the database software maker raised its fiscal 2026 revenue outlook and also issued an upbeat outlook for fiscal 2029.
The company said at an analyst meeting held on the sidelines of the Oracle CloudWorld conference in Las Vegas that it expects revenue of at least $66 billion in fiscal 2026. Analysts surveyed by LSEG were expecting $64.5 billion.
Oracle is having a good week. Its shares are up about 15% over the past three sessions and trading at all-time highs after the company reported better-than-expected quarterly results. The company’s shares are up 55% this year, second only to Nvidia as the biggest tech company.
Oracle occasionally issues multiyear guidance, and on Thursday it said it expects revenue of more than $104 billion in fiscal 2029 and earnings per share to rise 20% from the prior year.
“These numbers shouldn’t be a problem — at all,” Safra Catz said at the event, pointing to partnerships that allow companies to use Oracle’s database software through top cloud providers. Amazon, Google and MicrosoftOracle announced the partnership with Amazon on Monday.
The company’s cloud infrastructure revenue grew 45% in the most recent quarter, faster than Amazon, Google, and Microsoft.
Not only will Oracle see increased revenue as companies move workloads from data centers to the cloud, but it also sees growth opportunities in artificial intelligence. said The competing cloud division has begun taking orders for a cluster of more than 131,000 of its next-generation “Blackwell” graphics processing units. NVIDIA.
Oracle plans to grow revenue, and Catz said he expects capital spending to double in fiscal 2025.
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