Oracle Shares Soar with Ambitious $104 Billion Revenue Forecast for 2029

Highlights

• Oracle's stock experienced a significant premarket surge after a senior executive projected annual revenue to reach at least $104 billion by fiscal 2029.
• Executive Vice President Doug Kehring's optimistic forecast, described as "ambitious" by Citi analysts, follows Oracle's recent quarterly results that surpassed Wall Street expectations.
• The company also increased its fiscal 2026 sales forecast to a minimum of $66 billion, surpassing analysts' consensus estimates.

Oracle (ORCL) shares jumped notably in premarket trading after Executive Vice President Doug Kehring revealed plans for the company's annual revenue to climb to no less than $104 billion by fiscal 2029. This projection, fueled by anticipated growth in artificial intelligence (AI) technologies, exceeded even the most optimistic market expectations.

Citi analysts characterized the forecast as "ambitious," highlighting the challenges in predicting long-term growth amid a rapidly evolving AI and technology landscape. The targets suggest Oracle aims for a compound annual growth rate (CAGR) in earnings per share (EPS) of at least 20% between fiscal years 2026 and 2029.

This optimistic outlook comes shortly after Oracle posted quarterly results that outperformed Wall Street estimates and announced a strategic multicloud partnership with Amazon Web Services (AWS), enhancing its cloud computing capabilities.

Oracle Raises Fiscal 2026 Sales Forecast Above Market Expectations

In addition to the long-term projection, Oracle has adjusted its fiscal 2026 sales forecast upward to a minimum of $66 billion, surpassing its previous target of $65 billion and exceeding the $64.8 billion consensus estimate from analysts surveyed by Visible Alpha.

The company's shares climbed 6% just before the market opened and have surged over 50% this year, driven by heightened demand from AI developers seeking advanced cloud computing solutions.

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