Oracle's shares surge 6% on higher fiscal 2026 revenue forecast, surpassing analyst expectations.

From CNBC: 2024-09-12 18:19:57

Oracle Corp. CEO Safra Catz celebrated the company’s 10th anniversary on the New York Stock Exchange as shares surged 6% in extended trading. Revenue guidance for fiscal 2026 was increased to at least $66 billion, beating analyst expectations of $64.5 billion. The stock has gained 15% in the past three sessions and is up 55% for the year. For fiscal 2029, Oracle forecasts over $104 billion in revenue with 20% growth in earnings per share annually. The company’s cloud infrastructure revenue grew 45% in the last quarter, surpassing Amazon, Google, and Microsoft. Oracle plans to double capital expenditures in the current fiscal year to support revenue expansion.



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