(Bloomberg) — Oracle Corp. said annual revenue will rise to at least $104 billion in fiscal 2029, an optimistic signal on the growth prospects of the software maker’s cloud infrastructure business.
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Executive Vice President Doug Kehring delivered the forecast Thursday at Oracle’s annual briefing for financial analysts. Oracle also raised its sales outlook for fiscal 2026 to at least $66 billion from a prior target of $65 billion. On average analysts estimated revenue of $64.5 billion for 2026, according to a Bloomberg survey.
The Austin-based company, known for its database software, is focused on expanding its toehold in cloud infrastructure, which rents out computer power and storage to compete with Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google. Oracle’s cloud has developed a reputation for success with generative artificial intelligence…
