Oracle 2026 revenue seen rising 17% on Cloud surge

Oracle Corp. (NYSE: ORCL) is set to report Q4 and full-year fiscal 2026 earnings on Wednesday, June 10, with analysts expecting another strong quarter of cloud-led growth. Analysts expect Q4 revenues of $19.1 billion, up 20% year-on-year. For the full year, revenues are projected to grow 17% to $67.3 billion, driven by continued momentum in the software maker’s Cloud Services offerings.

Visible Alpha consensus shows continued strength in the company’s AI-driven backlog expansion, which is expected to support the outlook. Remaining performance obligations (RPO), a key gauge of contracted future revenue, are estimated at $600 billion for the full year, up 335% from last year, reflecting robust AI-related demand from large enterprise customers.

Cloud has become the centerpiece of Oracle’s business. Analysts expect cloud revenue to climb 39% to $34.1 billion in 2026, accounting for roughly 51% of total sales. That marks a decisive shift from a decade ago, when Oracle was largely defined by its on-premise database business. As recently as last year, cloud contributed 43% of revenue; analysts now project that by 2030 the share could reach as high as 86%, transforming Oracle into a predominantly recurring, infrastructure-driven business.

Within cloud, infrastructure-as-a-service (IaaS) is emerging as the standout performer. Oracle has positioned its cloud infrastructure as a lower-cost, high-performance alternative for enterprise AI workloads, competing with hyperscale leaders. IAAS revenues are projected to be up 76% in 2026 to $18 billion, while software-as-a-service (SaaS) revenue is forecast to rise by a relatively modest 12% to $15.9 billion.

 This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.