Oracle Corp. CEO Safra Catz walks onto the floor of the New York Stock Exchange as Oracle rings the opening bell to celebrate its 10th anniversary of listing on the New York Stock Exchange on July 12, 2023.
Spencer Platt | Getty Images
Oracle Microsoft shares rose about 6% in extended trading Thursday after the database software maker raised its revenue guidance for fiscal 2026 and issued a strong outlook for fiscal 2029.
At an analyst meeting that coincided with Oracle's CloudWorld conference in Las Vegas, the company said it now expects to generate at least $66 billion in revenue in fiscal 2026. Analysts polled by LSEG had expected $64.5 billion.
Oracle is having a good week. Its shares have risen about 15% over the past three trading sessions, trading at a record high after the company reported quarterly results that beat expectations. The stock is now up 55% for the year, trailing only Nvidia among large-cap tech companies.
Oracle also occasionally provides guidance for several years ahead. The company said Thursday it expects to generate more than $104 billion in revenue by fiscal 2029, along with 20% annual earnings per share growth.
“These numbers shouldn’t be a problem at all,” CEO Safra Catz said at the event, pointing to partnerships that will allow companies to use Oracle database software through top-tier cloud providers. Amazon, Google and MicrosoftOracle announced its relationship with Amazon on Monday.
The company's cloud infrastructure revenue rose 45% in the last quarter, a faster pace than Amazon, Google or Microsoft.
In addition to generating more revenue as companies move workloads to the cloud from their own data centers, Oracle has an opportunity to grow in AI. On Wednesday, Oracle said its cloud unit, which competes with Microsoft, has begun taking orders for a fleet of more than 131,000 next-generation graphics processing units from Blackwell. Nvidia.
While Oracle plans to expand its revenue, Catz said it expects capital expenditures to double in the current fiscal year 2025.
WATCH: Investors are starting to look at Oracle for the longer term, says Wolff's Alex Zukin
