Oracle Corporation · ORCL · FY2027 Q1 · Calendar Q3 2026

Oracle raises FY27 outlook as AI demand accelerates cloud growth

Oracle's current results support the view that AI demand and resilient enterprise adoption can sustain growth, but the case depends on converting RPO into revenue while managing CapEx, delivery, and margin pressure.

Reported After market closeNYSETechnology $425.16B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.92 Consensus $1.74
EPS surprise +10.3% Reported versus consensus
Reported revenue $19.34B Consensus $19.13B
Revenue surprise +1.1% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -1.7% Event window
SPY move +0.9% Same window
Abnormal move -2.6% Stock minus SPY
Volume 3.4× Versus trailing sessions
Subsequent drift -1.8% Up to 20 sessions
ORCLSPY benchmark

Ask FN2 about ORCL FY2027 Q1

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Why did ORCL fall 1.7% after beating EPS estimates in FY2027 Q1?What changed in ORCL's guidance and outlook in FY2027 Q1?Give me the bull and bear case for ORCL after FY2027 Q1 earnings.

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Transcript intelligence

What changed

Compared with the prior quarter, cloud-infrastructure growth accelerated to 121% year over year, RPO rose by $26 billion, and FY27 guidance was raised to at least $90 billion of revenue. Oracle also added NetSuite Next, an AI connector service, and new ecosystem initiatives.

Guidance delta

Raised: FY27 revenue guidance is now at least $90 billion, with Q2 growth guided to 30%-34%; non-GAAP EPS guidance also increased.

Key takeaways

  • Revenue reached $19.3 billion, up 30% year over year, led by 121% cloud-infrastructure growth.
  • RPO increased by $26 billion, with half expected to convert to revenue over the next 36 months.
  • Oracle delivered 850 MW of AI capacity and more than 3,000 GPUs in Q1 at 97.9% utilization.
  • NetSuite Next and its AI connector service were adopted by more than 10,000 customers.

Management priorities

  • Expand AI-ready compute capacity and convert RPO into recurring revenue.
  • Launch the agentic AI accelerator and expand Fusion, NetSuite, and multi-cloud offerings.
  • Advance the Oracle-AWS interconnect, database expansion, and strategic ecosystem partnerships.
  • Provide more detail on strategy and financial outlook at the October Investor Day.

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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. 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 $2.30 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

$147.61Current
$80Low
$240.71Average
$400High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 20, 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 current price $147.61. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BMO CapitalKeith Bachman$195$155.88 +32.1%Sep 11, 2026
Stifel NicolausBrad Reback$200$153.17 +35.5%Sep 11, 2026
BarclaysAnalyst unavailable$252$153.17 +70.7%Sep 11, 2026
KeyBancAnalyst unavailable$285$153.17 +93.1%Sep 11, 2026
Morgan StanleySanjit Singh$210$154.04 +42.3%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
-8.5%FY2026 Q4 · Calendar Q2 2026

Technology peers this season

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VRSN VeriSign, Inc. FY2026 Q2 · Calendar Q3 2026 -1.7% +7.0% VeriSign Q2 2026: Record Registrations, Raised Guidance, .web TLD Delegated
ROP Roper Technologies, Inc. FY2026 Q2 · Calendar Q3 2026 +1.9% +5.5% Roper Technologies Beats Q2 Estimates, Raises Guidance on AI Momentum and Strong Cash Flow
INTC Intel Corp. FY2026 Q2 · Calendar Q3 2026 +100.0% -7.9% Intel Beats on AI Strength, but Foundry Losses and Rising Capex Drag Shares
TDY Teledyne Technologies Incorporated FY2026 Q2 · Calendar Q3 2026 +8.5% +0.5% Teledyne Posts Record Q2 as Digital Imaging and Defense Drive Guidance Raise
TEL TE Connectivity plc FY2026 Q3 · Calendar Q3 2026 +3.2% -4.2% TE Connectivity Q3: Revenue and Orders Hit Records as AI Demand Accelerates

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-09-11T14:24:01.014001+00:00
  2. FN2 earnings calendar · 2026-09-20T01:23:12.707946+00:00
  3. Polygon adjusted daily market bars · 2026-09-20T22:00:48.586721+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-20T22:00:48.583854+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 . For educational purposes only; not investment advice.