ORCL Oracle Corp

What the last report said

Wed, Jun 10, 2026

Oracle Q4: IaaS +93% and RPO surges to $638B driving record quarter; EPS beats but revenue slightly misses, FCF negative $23.7B

• Cloud Infrastructure (IaaS) revenue $5.8B, up 93% YoY (USD), main growth engine
• RPO surged to $638B, up 363% YoY and +$85B sequentially, driven by large-scale AI contracts with prepaid or customer-supplied GPUs
• Prepaid and customer-supplied hardware portions total $75B, substantially reducing Oracle's capital raise needs
• Oracle Multicloud AI Database grew 404% in Q4, fastest growing business ever
• Non-GAAP operating income $8.6B, up 22% YoY, driven by revenue growth and operating efficiency actions
• FY26 operating cash flow $32.0B, up 54% YoY; management emphasized on call that customer-supplied chips and vendor leasing models further reduce borrowing needs

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