Key takeaways
  • Oracle AI infrastructure revenue grew 243%, and multicloud database revenue grew 531% year over year in Oracle Q3 fiscal 2026 earnings.
  • Oracle signed $553 billion in contracted AI work in Q3 2026, up 325% year over year, driven by large-scale AI data center contracts.
  • Oracle raised its fiscal 2027 revenue forecast to $90 billion and confirmed that over 1,000 AI agents are already live inside Oracle Fusion Cloud.

Oracle hasn’t posted a quarter like this since 2009. On March 10, Principal Financial Officer Douglas Kehring told analysts that Q3 2026 was the first time in over 15 years that both organic total revenue growth and earnings per share crossed 20% in the same quarter. Total revenue came in at $17.19 billion, above the $16.91 billion analyst estimate compiled by LSEG.

Oracle CEO Clay Magouyrk told analysts on the March 10 call that AI infrastructure revenue grew 243% year over year in fiscal Q3. Oracle's multicloud database business, which runs Oracle Database inside Microsoft Azure, Google Cloud, and Amazon Web Services, grew 531% year over year in the same period. Magouyrk said both segments currently have more customer demand than available supply. Oracle's stock closed at $151.56 on March 10 and climbed roughly 10% in premarket trading on Wednesday, according to Reuters.

Oracle's remaining performance obligations, the total value of work customers have contracted, but Oracle has not yet delivered, reached $553 billion in Q3 2026. That is up 325% from a year earlier, up from $523 billion the prior quarter, and above the $540.37 billion estimate from Visible Alpha analysts. Kehring said on the call that the increase is driven primarily by large-scale AI contracts.

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