Oracle soars after raising annual forecast on robust cloud services demand


FILE PHOTO: A logo of cloud service provider Oracle is seen at the company's offices at Eastpoint Business Park, Dublin, Ireland October 18, 2021. REUTERS/Tom Bergin/File Photo

(Reuters) -Oracle raised its annual revenue growth forecast on Wednesday, betting on robust demand for its cloud offerings from companies deploying artificial intelligence, sending its shares up more than 7% after the bell.

For fiscal 2026, Oracle expects total revenue to be at least $67 billion, CEO Safra Catz said on a post-earnings call.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Exclusive-Tesla board made $3 billion via stock awards that dwarfed tech peers
Electricity is now holding back growth across the global economy
North Korean leader's sister sports Chinese foldable phone
STMicro has shipped 5 billion chips for Starlink in past decade; that could double by 2027
Tech support scammers stole US$85,000 from him. His bank declined to refund him.
Analysis-Old meets new economy: AI boom to supercharge European banks' rally
Humanoid robots take center stage at Silicon Valley summit, but scepticism remains
Asahi CEO mulls new cybersecurity unit as disruption drags on
China's smaller manufacturers look to catch the automation wave
From Zelda to Civ VI: understanding game complexity

Others Also Read