Oracle reported fiscal third-quarter revenue of $17.2 billion, a 22% year-over-year increase, while non-GAAP earnings per share rose 21% to $1.79. Cloud revenue led growth, climbing 44% to $8.9 billion as enterprises accelerated adoption of Oracle's suite of cloud services.

The company's remaining performance obligation, or contracted backlog, surged 325% to $553 billion. AI infrastructure revenue jumped 243%, reflecting strong demand for AI workloads, while database services saw triple-digit growth. However, rapid expansion required heavy investment in data-center capacity.

Oracle's stock has risen 32% over the past three months on the strength of AI-driven cloud momentum. Investors remain cautious about the pace of capital spending, which has pressured free cash flow and prompted some downward revisions to near-term earnings estimates.