Oracle Corporation (ORCL) concluded fiscal 2026 with a record $638 billion in Remaining Performance Obligations (RPO), marking an $85 billion sequential increase. This growth reflects strong customer demand, particularly in AI cloud infrastructure and enterprise applications. The company reported a 93% increase in Cloud Infrastructure revenues year-over-year for the fourth quarter, with total cloud revenues rising by 47%.
Approximately 98% of Oracle’s AI data center capacity is contracted, nearing full utilization. The company aims for a revenue target of $90 billion in fiscal 2027, supported by this substantial backlog. In comparison, major competitors like Microsoft (MSFT) and Snowflake (SNOW) also report expanding RPOs, but Oracle capitalizes on larger multiyear infrastructure contracts.
Despite a 19.2% year-to-date decline in ORCL shares, the Zacks Consensus Estimate for fiscal 2027 earnings now stands at $8.03 per share, indicating a projected growth of 5.24% compared to fiscal 2026.
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