The American Multinational Computer Technology Organization Oracle Corporation mentioned about its annual revenue to rise to the $104 Billion mark in the financial year of 2029. It indicates a positive development on the growth prospects in the Oracle’s business in cloud infrastructure.
In Oracle’s annual briefing addressing the financial analysts Doug Kehring the Executive Vice President announced the forecast of the organization’s sales growth. The corporation also indicated that sales for fiscal 2026 will increase to $66 billion, up from its previous estimate of $65 billion. The sources reported that the analysts have set the sales average of 2026 at $64.5 billion.
Oracle which is one of the leading organizations in database software, offers computer power, storage facilities competing with Google, Microsoft Corp and Amazon.com respectively. The IT MNC is aiming to expand its share in the cloud infrastructure arena.
With big customers including xAI of Elon Musk, Reka and others, Oracle Cloud has recently been successful in effectively delivering generative artificial intelligence functions.
Oracle’s stock rose 5% during extended trading. Oracle has proven to be one of the best performing stocks this year, rising 53% in the final hours of trading on Thursday.
To support easy facilitation of database software to run smoothly on their platforms, Oracle has cracked deals with some of its large cloud infrastructure competitors.
During the Thursday event Kehring identified that most database customers haven’t moved to cloud platforms yet. This moving-on phase of database customers to the cloud platform will emerge as a major contributor to its revenue growth.
