ChainThink reports that on March 11, Oracle (ORCL.N) shares rose 7.8% in after-hours trading following its better-than-expected earnings report last night and optimistic long-term revenue guidance, driven by its strong focus on AI data centers. The company reported that revenue for the third quarter of fiscal year 2026 increased 22% year-over-year to $17.2 billion, surpassing the market expectation of $16.9 billion.
In addition, the company raised its fiscal year 2027 revenue forecast to $90 billion, above market expectations. Currently, Oracle has launched a strong initiative to compete with larger rivals such as Amazon and Microsoft by providing computing resources to AI companies.
Wedbush analysts said Oracle’s third-quarter earnings and forward guidance are likely to bring “relief” to investors. Oracle’s outlook for 2026 and 2027 indicates that the company has begun monetizing its artificial intelligence business. Oracle also stated that it has already raised $30 billion out of its expected $50 billion in financing. Analysts said this will ease investor concerns about Oracle’s ability to fund its data center deals.