10-K · June 22, 2026
Oracle Corporation's fiscal 2026 10-K report highlights significant growth in cloud revenues, with total revenue reaching $67.4 billion, an increase of 17% year-over-year. The company's cloud and software segment…
Earnings analysis · 10-Q
ORCL earnings analysis
Filed September 11, 2026 · Our reading of the company's report
The latest report
Oracle delivered $19.345 billion of revenue and $1.92 of non-GAAP EPS, beating consensus by 1.13% and 14.97%, respectively. Growth was led by 62% cloud growth and 121% Cloud Infrastructure growth, but the company’s…
Read full summary
Oracle delivered $19.345 billion of revenue and $1.92 of non-GAAP EPS, beating consensus by 1.13% and 14.97%, respectively. Growth was led by 62% cloud growth and 121% Cloud Infrastructure growth, but the company’s $5.396 billion negative free cash flow and $28.499 billion of capital expenditures remain substantial execution and financing risks. The supplied 10-Q text provides no new quantitative guidance and no material formal risk-factor changes.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.92
- Segment
- Cloud revenue grew 62% year over year; Cloud Infrastructure revenue grew 121% year over year. Segment revenue dollars were not disclosed in the supplied filing text.
What stood out
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Revenue beat and accelerated year-over-year growth
Revenue was $19.345 billion, $216 million above the $19.129 billion consensus estimate, representing a 1.13% beat and approximately 29.6% growth from $14.93 billion in the prior-year quarter.
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EPS materially exceeded consensus
Non-GAAP EPS was $1.92 versus the $1.67 estimate, a 14.97% beat, and increased from $1.01 in the prior-year quarter.
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Cloud Infrastructure growth remained triple-digit
Cloud revenue increased 62% year over year, while Cloud Infrastructure revenue grew 121%, highlighting continued demand for Oracle’s AI and infrastructure services.
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AI infrastructure investment expanded sharply
The company reported a $5.396 billion negative free cash flow position while capital expenditures were $28.499 billion, reflecting substantial infrastructure investment relative to internally generated cash.
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Repurchases paused to preserve liquidity
Oracle had approximately $6.3 billion remaining under its share-repurchase authorization and conducted no stock repurchases during the three months ended August 31, 2026.
What to watch
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Negative cash flow and elevated capex
Free cash flow was negative $5.396 billion while capital expenditures were $28.499 billion, increasing reliance on external financing and execution of high-growth infrastructure investments.
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Potential insider-share overhang
The filing states that Lawrence J. Ellison adopted a trading plan permitting sales of up to 50 million Oracle shares, creating a potential overhang and dilution-related market risk if executed.
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Capital allocation constrained by liquidity needs
Approximately $6.3 billion remained available for repurchases, but no repurchases occurred in the quarter; management states future activity depends on working-capital needs, capital expenditures, acquisitions, dividends, debt obligations, stock price, and market conditions.
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No new formal risk-factor disclosure
The 10-Q does not identify new risk-factor changes and refers investors back to the May 31, 2026 10-K; therefore, no material update to the formal risk-factor section was disclosed in the supplied text.
Management's outlook
The supplied 10-Q text does not include quantitative revenue or EPS guidance. Prior outlook commentary was provided in the September 10 earnings release rather than the extracted filing text.
Earlier filings 4
10-Q · March 11, 2026
Oracle reported revenue of $17,190 million for the quarter ended February 28, 2026, up $3,060 million (21.7% YoY) driven primarily by Cloud revenue growth. Gross margin contracted to 64.6% while operating margin…
10-Q · December 11, 2025
Oracle reported strong quarter-to-year operating performance with total revenues of $16,058 million and diluted EPS of $2.10 for the three months ended November 30, 2025, materially above prior-year EPS. Growth was…
10-Q · September 10, 2025
Oracle reported quarterly revenue of $14,926 million, up $1,619 million (12.2%) versus $13,307 million a year ago, driven by a $1,563 million (27.8%) increase in Cloud revenue to $7,186 million. Operating income rose to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.