Record Q4 Earnings per Share GAAP up 21% USD to $1.45, non-GAAP up 24% USD to $2.111
Record Q4 Total Revenues $19.2 billion, up 21% USD, and up 20% constant currency
Record Q4 Total Cloud Revenues $9.9 billion, up 47% USD, and up 46% constant currency
Q4 Cloud Infra (IaaS) Revenue $5.8 billion, up 93% USD, and up 92% constant currency
Q4 Cloud Apps (SaaS) Revenue $4.1 billion, up 10% USD, and up 9% constant currency
Record FY 2026 Earnings per Share GAAP up 34% USD to $5.83, non-GAAP up 27% USD to $7.631
Record FY 2026 Total Revenues $67.4 billion, up 17% USD, and up 16% constant currency
Record FY 2026 Total Cloud Revenues $34.0 billion, up 39% USD, and up 37% constant currency
FY 2026 Cloud Infra (IaaS) Revenue $18.1 billion, up 77% USD, and up 75% constant currency
FY 2026 Cloud Apps (SaaS) Revenue $15.9 billion, up 11% USD, and up 10% constant currency
AUSTIN, Texas, June 10, 2026 /PRNewswire/ -- Oracle Corporation (NYSE:ORCL) today announced another record quarter with strong revenue growth across its Cloud Infrastructure and Cloud Applications businesses. Total quarterly revenues increased 21% to $19.2 billion, reflecting broad-based demand for Oracle's industry-leading cloud technology and applications suites. Cloud revenues (IaaS + SaaS) increased 47% to $9.9 billion driven by 93% growth in Cloud Infrastructure (IaaS), and 10% growth in Cloud Applications (SaaS). Software revenues were down 2% to $6.8 billion, reflecting our customers' continuing migration from on-premise software to the Cloud. Services revenues were $1.5 billion, up 13%, and Hardware revenues were $0.9 billion, up 9%.
Oracle generated Q4 GAAP operating income of $6.1 billion, up 20%, while non-GAAP operating income rose to a record $8.6 billion, up 22%, driven by strong revenue growth and operating efficiency actions taken during the quarter. GAAP net income available to common shareholders reached $4.2 billion, up 23%, and non-GAAP net income available to common shareholders grew to $6.2 billion, up 26%. Q4 GAAP earnings per share increased to $1.45, up 21%, and non-GAAP earnings per share climbed to $2.111, up 24%.
Financial Results for FY 2026Fiscal year 2026 total revenues were up 17% to a record $67.4 billion. Cloud revenues increased 39% to $34.0 billion. Software revenues were down 1% to $24.5 billion. Services revenues were $5.7 billion, up 10%, and Hardware revenues were $3.1 billion, up 5%.
Fiscal year 2026 GAAP operating income was $20.6 billion, up 17%, and non-GAAP operating income rose to a record $28.9 billion, up 16%. GAAP net income available to common shareholders reached $17.0 billion, up 36%, while non-GAAP net income available to common shareholders grew to $22.2 billion, up 29%. GAAP earnings per share increased to $5.83, up 34%, while non-GAAP earnings per share climbed to $7.631, up 27%.
Oracle's strong operating income translated to record fiscal year operating cash flow of $32.0 billion, up 54%. Free cash flow was negative $23.7 billion for fiscal year 2026 as Oracle continued to execute on investments to support the growth of its Cloud Infrastructure business.
Remaining Performance ObligationsRemaining Performance Obligations, or RPO, ended the quarter at $638 billion, up 363% USD year-over-year and up $85 billion sequentially from the end of Q3.
Most of the RPO increase in both Q3 and Q4 were large scale AI contracts where the customer prepaid Oracle for the purchase of the GPUs, or the customer bought and supplied the GPUs to Oracle. The prepaid and customer supplied hardware portions of our large AI contracts now total $75 billion. This substantially reduces the amount of capital Oracle must raise to build out our AI datacenters.
Capital Investment Program and Capital FundingOracle's capital investment program supports the pursuit of unprecedented opportunities in AI Cloud Infrastructure as described at our most recent Financial Analyst Meeting. In fiscal year 2026, Oracle raised $43 billion in debt financing and $5 billion in equity financing. In fiscal year 2027, Oracle expects to raise approximately $40 billion through a combination of debt and equity financing including its previously announced $20 billion at-the-market equity issuance. Oracle does not expect to issue additional debt in calendar year 2026.
Guidance for Q1 FY 2027Oracle is providing the following forward-looking guidance for Q1 FY 2027:
Total Revenues are expected to grow from 27% to 29% in both constant currency and USD.
Total Cloud revenue is expected to grow between 57% and 63% in constant currency and is expected to grow between 58% and 64% in USD.
Non-GAAP earnings per share is expected to grow between 16% and 19% and be between $1.71 and $1.75 in constant currency and grow between 17% and 20% and be between $1.72 and $1.76 in USD.
Guidance for Full FY 2027For fiscal year 2027, we confirm our prior revenue guidance of $90 billion total revenue and raise our non-GAAP EPS guidance to $8.05, which is growth of 18%1 after adjusting for the one-time events of selling our Ampere chip business and Bloom Energy warrants in fiscal year 2026.
AI Market and Technology EvolutionThe large increases in Oracle's RPO and revenue are driven by the growing demand for cloud infrastructure for AI training and inferencing. Oracle is building datacenters that are intended to use clean energy from natural gas fuel cells to generate electricity with minimal emissions. Other innovations in the areas of high-performance networking, advanced security and autonomous software have made Oracle the world's fastest growing provider of cloud datacenters.
Our database and applications businesses are both benefiting from Oracle's early adoption of AI. The Oracle Multicloud AI Database grew 404% in Q4—making it our fastest growing business ever. The Oracle Health application suite will soon include a completely new AI version of the Cerner hospital and clinic patient care management system. We expect this new AI patient care management system to push the growth rate of the overall Oracle Health business to double-digits in fiscal year 2027. And this is just the beginning of the expansion of the Oracle Health business.
We believe AI is about to completely revolutionize healthcare. Improvements in patient care are expected to yield much better patient outcomes, while dramatically lowering the cost of healthcare throughout the world. Oracle Health AI systems will allow doctors to spend less time with computers and more time with patients. AI molecular design models are expected to enable researchers to accelerate the development of life-saving drugs. Oracle's new AI clinical trial system is designed to enable regulators to rapidly review and approve clinical trial test results enabling patients to get access to new drugs sooner. AI will make healthcare better, more accessible, and less expensive.
Common Stock Quarterly DividendThe 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 July 10, 2026, with a payment date of July 24, 2026.
Footnotes1, Q4 and FY 2026 results include one-time net investment gains from certain transactions. Excluding these investment gains, Q4 non-GAAP EPS would be $2.03, up 20% in USD and up 18% in constant currency and FY 2026 non-GAAP EPS would be $6.83, up 13% in USD and up 11% in constant currency. Excluding these same investment gains, FY 2027 non-GAAP EPS growth would be 18%.
Other Information
A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.
A list of recent technical innovations and announcements is available at www.oracle.com/news/.
To learn what industry analysts have been saying about Oracle's products and services see www.oracle.com/corporate/analyst-reports/.
Earnings Conference Call and WebcastOracle 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/.
About OracleOracle 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.
TrademarksOracle, 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 statements regarding expected future revenues, cloud revenue growth, earnings per share, remaining performance obligations, future customer demand for AI and cloud infrastructure services, future capital expenditures and financing requirements, planned debt and equity financing activities, planned datacenter expansion and technology deployment, future product offerings and enhancements, anticipated benefits of AI technologies and AI-enabled healthcare solutions, expected growth of Oracle Health, future market opportunities and future dividend payments 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 June 10, 2026. Oracle undertakes no duty to update any statement in light of new information or future events.
ORACLE CORPORATION
Q4 FISCAL 2026 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS($ in millions, except per share data)
Three Months Ended May 31,
% Increase
% Increase
(Decrease)
2026
% of
2025
% of
(Decrease)
in Constant
Revenues
Revenues
in US $
Currency (1)
REVENUES
Cloud
$ 9,913
52 %
$ 6,737
43 %
47 %
46 %
Software
6,824
35 %
6,968
44 %
(2 %)
(3 %)
Hardware
924
5 %
850
5 %
9 %
7 %
Services
1,523
8 %
1,348
8 %
13 %
12 %
Total revenues
19,184
100 %
15,903
100 %
21 %
20 %
OPERATING EXPENSES
Cloud and software
5,224
27 %
3,343
21 %
56 %
56 %
Hardware
293
2 %
252
2 %
16 %
13 %
Services
1,155
6 %
1,145
7 %
1 %
0 %
Sales and marketing
2,068
11 %
2,306
15 %
(10 %)
(12 %)
Research and development
2,613
14 %
2,654
17 %
(2 %)
(1 %)
General and administrative
444
2 %
467
3 %
(5 %)
(5 %)
Amortization of intangible assets
431
2 %
544
3 %
(21 %)
(21 %)
Restructuring and other
823
4 %
83
0 %
899 %
901 %
Total operating expenses
13,051
68 %
10,794
68 %
21 %
20 %
OPERATING INCOME
6,133
32 %
5,109
32 %
20 %
18 %
Interest expense
(1,438)
(8 %)
(978)
(6 %)
47 %
47 %
Non-operating income, net
675
4 %
20
0 %
*
*
INCOME BEFORE INCOME TAXES
5,370
28 %
4,151
26 %
29 %
27 %
Provision for income taxes
1,066
6 %
724
4 %
47 %
45 %
NET INCOME
$ 4,304
22 %
$ 3,427
22 %
26 %
23 %
Preferred stock dividends
81
-
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
$ 4,223
$ 3,427
EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS:
Basic
$ 1.47
$ 1.22
Diluted
$ 1.45
$ 1.19
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
2,878
2,805
Diluted
2,915
2,871
(1)
We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the three months ended May 31, 2026 compared with the corresponding prior year period increased our total revenues by 1 percentage point, total operating expenses by 1 percentage point and operating income by 2 percentage points.
*
Not meaningful
ORACLE CORPORATION
Q4 FISCAL 2026 FINANCIAL RESULTS
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
Three Months Ended May 31,
% Increase(Decrease)in US $
% Increase(Decrease)in Constant Currency (2)
2026
2026
2025
2025
GAAP
Non-GAAP
GAAP
Non-GAAP
GAAP
Adj.
Non-GAAP
GAAP
Adj.
Non-GAAP
TOTAL REVENUES
$ 19,184
$ -
$ 19,184
$ 15,903
$ -
$ 15,903
21 %
21 %
20 %
20 %
TOTAL OPERATING EXPENSES
$ 13,051
$ (2,457)
$ 10,594
$ 10,794
$ (1,926)
$ 8,868
21 %
19 %
20 %
19 %
Stock-based compensation (3)
1,203
(1,203)
-
1,299
(1,299)
-
(7 %)
*
(7 %)
*
Amortization of intangible assets (4)
431
(431)
-
544
(544)
-
(21 %)
*
(21 %)
*
Restructuring and other
823
(823)
-
83
(83)
-
899 %
*
901 %
*
OPERATING INCOME
$ 6,133
$ 2,457
$ 8,590
$ 5,109
$ 1,926
$ 7,035
20 %
22 %
18 %
21 %
OPERATING MARGIN %
32 %
45 %
32 %
44 %
(16) bp.
54 bp.
(42) bp.
44 bp.
INCOME TAX EFFECTS (5)
$ 1,066
$ 527
$ 1,593
$ 724
$ 472
$ 1,196
47 %
33 %
45 %
32 %
NET INCOME
$ 4,304
$ 1,930
$ 6,234
$ 3,427
$ 1,454
$ 4,881
26 %
28 %
23 %
26 %
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
$ 4,223
$ 1,930
$ 6,153
$ 3,427
$ 1,454
$ 4,881
23 %
26 %
21 %
25 %
DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS
$ 1.45
$ 2.11
$ 1.19
$ 1.70
21 %
24 %
19 %
23 %
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
2,915
-
2,915
2,871
-
2,871
2 %
2 %
2 %
2 %
(1)
This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
(2)
We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2025, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.
(3)
Stock-based compensation was included in the following GAAP operating expense categories:
Three Months Ended
Three Months Ended
May 31, 2026
May 31, 2025
GAAP
Adj.
Non-GAAP
GAAP
Adj.
Non-GAAP
Cloud and software
$ 144
$ (144)
$ -
$ 150
$ (150)
$ -
Hardware
6
(6)
-
7
(7)
-
Services
52
(52)
-
52
(52)
-
Sales and marketing
185
(185)
-
200
(200)
-
Research and development
705
(705)
-
737
(737)
-
General and administrative
111
(111)
-
153
(153)
-
Total stock-based compensation
$ 1,203
$ (1,203)
$ -
$ 1,299
$ (1,299)
$ -
(4)
Estimated future annual amortization expense related to intangible assets as of May 31, 2026 was as follows:
Fiscal 2027
$ 731
Fiscal 2028
694
Fiscal 2029
620
Fiscal 2030
582
