Oracle Projects $104 Billion in Annual Revenue by Fiscal 2029 Amid Cloud Expansion

Oracle Corp. has forecasted that its annual revenue will reach at least $104 billion by fiscal 2029, signaling strong growth prospects for its cloud infrastructure business. The company revealed this optimistic projection during its annual briefing for financial analysts on Thursday. Additionally, Oracle raised its sales outlook for fiscal 2026 to a minimum of $66 billion, up from a previous target of $65 billion. Analysts had projected an average revenue of $64.5 billion for 2026, according to a Bloomberg survey.

Oracle, headquartered in Austin, is intensifying its focus on cloud infrastructure, competing with major players like Amazon.com Inc., Microsoft Corp., and Alphabet Inc.’s Google. The company’s cloud services have gained traction with generative artificial intelligence applications, boasting clients such as Reka and Elon Musk’s xAI.

Oracle’s stock surged about 5% in after-hours trading, reflecting its strong performance in the software sector, with shares up 53% year-to-date through Thursday’s close.

The company has also forged partnerships with its larger cloud rivals to enable smoother operation of its database software on their platforms. Despite many database customers yet to transition to the cloud, Oracle views the migration of on-premises database customers as a key driver of future revenue growth.