Oracle Announces Fiscal Year 2026 Third Quarter Financial Results

Oracle Corporation (NYSE: ORCL) today announced that Q3 fiscal 2026 was an exceptional quarter with financial results that exceeded expectations. This Q3 was the first quarter in over 15 years where organic total revenue and non-GAAP earnings per share both grew at 20% or more in USD. Cloud revenue was at the high end of our guidance, total revenue was at the high end of constant currency guidance and above USD guidance, and non-GAAP earnings per share were above our guidance in both USD and constant currency.

Financial Results for Q3 FY26

Total quarterly revenues were up 22% in USD, and up 18% in constant currency to $17.2 billion. Cloud revenues were up 44% in USD, and up 41% in constant currency to $8.9 billion. Software revenues were up 3% in USD, and down 1% in constant currency to $6.1 billion.

Q3 GAAP operating income was $5.5 billion. Non-GAAP operating income was $7.4 billion, up 19% year-over-year in USD and up 14% in constant currency. GAAP net income was $3.7 billion. Non-GAAP net income was $5.2 billion, up 23% in USD and up 18% in constant currency. Q3 GAAP earnings per share was $1.27, up 24% in USD and up 16% in constant currency. Non-GAAP earnings per share was $1.79, up 21% in USD and up 16% in constant currency.

Short-term deferred revenues were $9.9 billion. Over the last twelve months, operating cash flow was $23.5 billion, up 13% in USD.

Remaining Performance Obligations

Remaining Performance Obligations, or RPO, ended the quarter at $553 billion, up 325% from last year and up $29 billion from last quarter. Most of the increase in RPO in Q3 related to large scale AI contracts where Oracle does not expect to have to raise any incremental funds to support these contracts as most of the equipment needed is either funded upfront via customer prepayments so Oracle can purchase the GPUs, or the customer buys the GPUs and supplies them to Oracle.

Capital Funding

In February, we announced our intent to raise up to $50 billion dollars in debt and equity financing, along with the statement that we do not expect to issue any additional bonds beyond this amount in calendar year 2026. Within days of the announcement, Oracle raised $30 billion through a combination of investment grade bonds and mandatory convertible preferred stock, with a record order book that was substantially oversubscribed. We have not yet initiated the at-the-market equity portion of the financing program.

AI Market and Technology Evolution

The demand for cloud computing for AI training and inferencing continues to grow faster than supply. Furthermore, some of the largest consumers of AI Cloud capacity have recently strengthened their financial positions quite substantially. These market dynamics enable Oracle to comfortably meet and likely exceed our revenue growth rate forecast for FY27 and beyond.

AI models for generating computer code have become so efficient that we have been restructuring our product development teams into smaller, more agile and productive groups. This new AI Code Generation technology is enabling us to build more software in less time with fewer people. Oracle is now building more SaaS applications for more industries at a lower cost. AI code generation is making our SaaS application suites more competitive and more profitable.

Guidance for Q4 FY26

The company is providing the following forward-looking guidance for Q4 2026:

• Total revenues are expected to grow from 18% to 20% in constant currency and are expected to grow from 19% to 21% in USD.
• Total Cloud revenue is expected to grow between 44% to 48% in constant currency and is expected to grow from 46% to 50% in USD.
• Non-GAAP earnings per share is expected to grow between 15% to 17% and be between $1.92 and $1.96 in constant currency and grow between 15% to 17% and be between $1.96 and $2.00 in USD.

Guidance for Fiscal Years 2026 and 2027

For fiscal year 2026, we expect revenue of $67 billion and capital expenditures of $50 billion. This is unchanged from our most recent previous guidance.

For fiscal year 2027, we are raising total revenue guidance to $90 billion.

Common Stock Quarterly Dividend

The board of directors declared a quarterly cash dividend of $0.50 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on April 9, 2026, with a payment date of April 24, 2026.

• A sample list of customers which purchased Oracle Cloud services during the quarter will be available at oracle.com/customers/earnings/.
• A list of recent technical innovations and announcements is available at oracle.com/news/.
• To learn what industry analysts have been saying about Oracle’s products and services see oracle.com/corporate/analyst-reports/.

Earnings Conference Call and Webcast

Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/.

联系信息

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks

Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

“Safe Harbor” Statement

Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including our expectations that we will not need to raise capital to support our new large-scale AI contracts signed in Q3, our intention not to issue additional bonds in calendar year 2026, growing demand for cloud computing increasing our revenue growth, expected future total revenues, expected future total Cloud revenue, expected future non-GAAP earnings per share, and expected future capital expenditures are "forward-looking statements" and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components such as graphic processing units; our ability to anticipate, plan for, secure and manage datacenter capacity; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; business volatility and risks associated with government contracting; economic, political and market conditions, including tariffs and trade wars; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of March 10, 2026. Oracle undertakes no duty to update any statement in light of new information or future events.

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