ORCL
FY2026 Q4 · Calendar Q2 2026
Oracle Corporation
Oracle closed FY2026 with a record fourth quarter, posting $19.2B in revenue (up 21% YoY) and beating EPS estimates by 7.7%. The quarter was defined by explosive AI infrastructure demand: cloud infrastructure grew 93%, RPO surged 363% to $638B, and the company signed $67B in new AI contracts at 97.5% GPU utilization. Management raised FY27 guidance to approximately 34% revenue growth and $8.05 non-GAAP EPS. However, the capital intensity required to deliver on this backlog is unprecedented: a $70B net CapEx plan, only partially offset by $20-25B in customer pre-payments. The market reacted sharply negatively, with the stock falling 8.5% on the next session and drifting 28.5% lower subsequently, suggesting investors are questioning whether the margin profile and cash-flow generation of this AI infrastructure ramp will justify the massive capital outlay.
EPS surprise+7.7%
Market move-8.5%
