Oracle predicts $104 billion revenue by fiscal 2029, but analysts raise skepticism over goal

From Investing.com: 2024-09-13 13:31:13

Oracle shares surged 8% after predicting $104 billion revenue by fiscal 2029 from AI-driven cloud services. Analysts caution the ambitious goal may require significant acquisitions. The company raised its fiscal 2026 revenue to $66 billion, projecting 11.7% growth for the first two years and 16.1% for the subsequent three years.

Despite skepticism, nine brokerages raised Oracle’s target prices, citing its strong positioning in the market. Shares rose 1.9% with a 50% increase this year, outperforming Microsoft and Amazon. Oracle’s forward price-to-earnings ratio stands at 24.65, compared to Microsoft’s 31.52 and Amazon’s 33.73.



Read more at Investing.com: Oracle shares pare gains as analysts weigh over $100 billion fiscal 2029 revenue forecast By Reuters