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Oracle (NYSE:ORCL) shares climbed 6% during post-market trading Thursday after it increased revenue guidance at its financial analyst meeting.
Oracle raised its revenue outlook for fiscal 2026 to $66B from a prior target of $65B. It expects its revenue to reach a towering $104B by fiscal 2029
Oracle co-founder and chief technology officer Larry Ellison said artificial intelligence and cloud infrastructure continues to drive opportunities. He mentioned customers such Elon Musk’s xAI as well as an array of industries across the globe, particularly in Europe.
In the past week, Oracle has announced strategic partnerships with Amazon Web Services (AMZN) and Google Cloud (GOOG)(GOOGL).
