Oracle Corporation · ORCL · FY2026 Q3 · Calendar Q1 2026

Oracle Q3: AI infrastructure and multicloud demand drive a raised outlook

The quarter supports a constructive growth thesis: management linked accelerating demand to AI infrastructure, multicloud databases, and enterprise applications, while raising guidance. The counterweight is that capital intensity, capacity delivery, funding, and execution remain material tests.

Reported After market closeNYSETechnology $401.91B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.79 Consensus $1.70
EPS surprise +5.3% Reported versus consensus
Reported revenue $17.19B Consensus $16.93B
Revenue surprise +1.6% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +9.2% Event window
SPY move -0.1% Same window
Abnormal move +9.3% Stock minus SPY
Volume 3.2× Versus trailing sessions
Subsequent drift -15.5% Up to 20 sessions
ORCLSPY benchmark

Ask FN2 about ORCL FY2026 Q3

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Why did ORCL rise 9.2% after beating EPS estimates in FY2026 Q3?What changed in ORCL's guidance and outlook in FY2026 Q3?Give me the bull and bear case for ORCL after FY2026 Q3 earnings.

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Transcript intelligence

What changed

Compared with the prior analysis, the current quarter shifts from a strong AI and multicloud setup to reported execution with raised guidance. New emphasis includes rapid AI infrastructure and multicloud database growth, broader AI-agent deployment, expanded partner-cloud coverage, and additional financing.

Guidance delta

Raised; the current analysis says Q3 revenue and earnings beat expectations.

Key takeaways

  • Management described record Q3 performance, with organic revenue and non-GAAP EPS growth above 20%.
  • AI infrastructure and multicloud database growth were central to the quarter's momentum.
  • Oracle is expanding AI capacity, cloud-region coverage, and embedded AI agents across its applications.

Management priorities

  • Expand AI infrastructure capacity and global cloud-region coverage.
  • Scale multicloud database services across AWS, Microsoft, and Google environments.
  • Embed AI agents in Fusion and industry applications while expanding sovereign-cloud deployments.

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Earnings History

Estimate Beat Miss Match
ORCL EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $1.32 Q2 '24 actual $1.34, beat Q3 '24 estimate $1.38 Q3 '24 actual $1.41, beat Q4 '24 estimate $1.65 Q4 '24 actual $1.63, miss Q1 '25 estimate $1.33 Q1 '25 actual $1.39, beat Q4 '25 estimate $1.64 Q4 '25 actual $1.70, beat Q1 '26 estimate $1.48 Q1 '26 actual $1.47, match Q2 '26 estimate $1.64 Q2 '26 actual $2.26, beat Q3 '26 estimate $1.70 Q3 '26 actual $1.79, beat Q4 '26 estimate $1.96 Q4 '26 actual $2.11, beat Q1 '27 estimate $1.74 Q1 '27 actual $1.92, beat Q2 '27 estimate $1.89 Q3 '27 estimate $2.02 Q4 '27 estimate $2.29 Q1 '28 estimate $2.31
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Analyst Consensus ?

ConsensusBuy85 ratings
Bullish5665.9%
Neutral2529.4%
Bearish44.7%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$139.54Previous close
$80Low
$240.71Average
$400High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Freedom Broker Buy BuyMaintainSep 14, 2026
Argus Research Buy BuyMaintainSep 14, 2026
UBS Buy BuyMaintainSep 11, 2026
TD Cowen Buy BuyMaintainSep 11, 2026
Stifel Buy BuyMaintainSep 11, 2026
Show 81 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $139.54. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BMO CapitalKeith Bachman$195$155.88 +39.7%Sep 11, 2026
Stifel NicolausBrad Reback$200$153.17 +43.3%Sep 11, 2026
BarclaysAnalyst unavailable$252$153.17 +80.6%Sep 11, 2026
KeyBancAnalyst unavailable$285$153.17 +104.2%Sep 11, 2026
Morgan StanleySanjit Singh$210$154.04 +50.5%Sep 4, 2026
See 194 more

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Company context

Snapshot as of publication

Oracle Corporation, a global technology giant, provides a comprehensive suite of enterprise information technology solutions worldwide. A core part of its portfolio comprises cloud-based software-as-a-service (SaaS) applications, including the Oracle Fusion Cloud suite covering enterprise resource planning (ERP), enterprise performance management (EPM), supply chain and manufacturing management (SCM), and human capital management (HCM). This also extends to specialized offerings like Oracle Advertising, the NetSuite application suite, and Oracle Fusion solutions for Sales, Service, and Marketing. Beyond these, Oracle develops cloud solutions tailored for various specific industries, alongside traditional application licenses and comprehensive license support services. Furthermore, the company's robust cloud and licensing business is underpinned by its infrastructure technologies.…

Historical context

All ORCL earnings
-1.7%FY2027 Q1 · Calendar Q3 2026-8.5%FY2026 Q4 · Calendar Q2 2026

Technology peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
SNX TD Synnex Corp FY2026 Q3 · Calendar Q3 2026 +20.9% -9.9% TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter
ADBE Adobe Inc. FY2026 Q3 · Calendar Q3 2026 +0.8% +1.4% Adobe raises FY26 outlook as AI strategy broadens
SAIL SailPoint, Inc. FY2027 Q2 · Calendar Q3 2026 +13.8% -1.2% SailPoint pairs 25% ARR growth with accelerating AI-driven adoption
CIEN Ciena Corporation FY2026 Q3 · Calendar Q3 2026 +22.0% -10.4% Ciena raises outlook as AI networking demand lifts backlog
DOCU DocuSign, Inc. FY2027 Q2 · Calendar Q3 2026 +6.4% +3.7% DocuSign Q2 FY27: IAM momentum supports a raised outlook
IOT Samsara Inc. FY2027 Q2 · Calendar Q3 2026 +25.0% +3.7% Samsara: AI adoption expands as FY27 guidance holds

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-09-25T10:00:58.220842+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T10:00:58.218021+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.