Oracle Projects 20% Cloud Growth and $80–100B FY27 Capex Plan
ORCL•Wall Street forecasts Oracle’s Q4 EPS at $1.96 and revenue at $19.09 billion, marking 15.3% and 20.1% year-over-year growth driven by AI infrastructure demand. BNP Paribas anticipates FY27 capital spending of $80–100 billion as Oracle builds Stargate campuses, while RPO backlog tops $500 billion.
1. Q4 Forecasts Driven by AI Infrastructure Demand
Oracle enters its fiscal Q4 reporting period with analysts projecting EPS of $1.96 and revenue of $19.09 billion, representing year-over-year increases of 15.3% and 20.1% respectively. Strong demand for AI infrastructure, including large IaaS contracts, underpins these growth estimates as Oracle continues to scale its cloud offerings and introduce Fusion Agentic Applications.
2. Aggressive Capex Plan and Record RPO Backlog
Investors are focused on Oracle’s planned FY27 capital expenditures of $80–100 billion to build new Stargate data-center campuses and acquire Nvidia GPUs. At the same time, Oracle’s remaining performance obligations have surged past $500 billion, raising questions about the company’s ability to convert backlog into revenue while maintaining healthy returns.
