Oracle Corporation reported third-quarter fiscal 2026 revenues of $17.2 billion, a 22% increase year-over-year, for the period ending February 28, 2026. Cloud revenues surged by 44% to $8.9 billion, with Oracle Cloud Infrastructure (OCI) growing 84% to $4.9 billion. Notably, non-GAAP earnings per share rose 21% to $1.79, marking the first quarter in over 15 years where both total revenues and earnings per share grew by 20% or more simultaneously.
However, Oracle’s capital expenditure guidance for fiscal 2026 has significantly increased to $50 billion, raising concerns over the company’s debt and cash flow status. In contrast, Remaining Performance Obligations skyrocketed by 325% year-over-year to $553 billion, primarily due to large-scale AI agreements. Over the next three years, Oracle has secured over 10 gigawatts of power and data capacity, with more than 90% being partner-funded.
In comparison to rivals, Alphabet expects fiscal 2026 capital expenditures of $175 billion to $185 billion, while Amazon anticipates $200 billion. As Oracle’s shares have decreased by 53.6% in the past six months, analyst estimates project fiscal 2026 earnings at $7.43 per share, reflecting a year-over-year growth of 23.22%.
