Oracle is projecting higher revenue and capital expenditures as its cloud-computing arm grows.
Oracle Corp . CEO Safra Catz walks on the floor of the New York Stock Exchange as Oracle rang the opening bell in celebration of its 10th anniversary of listing on the exchange in New York on July 12, 2023.shares rose about 6% in extended trading on Thursday after the database software maker raised its fiscal 2026 revenue guidance and issued a heady forecast for the 2029 fiscal year.
Oracle's good week is continuing. Shares gained around 15% the past three trading sessions and are trading at a record after the company announced quarterly results thatOracle sometimes also gives guidance multiple years out. The company said on Thursday that, looking out to the 2029 fiscal year, it sees over $104 billion in revenue, along with year-over-year growth in earnings per share of 20%.
The company's cloud infrastructure revenue grew 45% in the most recent quarter, a quicker pace than at Amazon, Google or Microsoft.
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