On June 10, Oracle (NYSE: ORCL) will be one of the most closely watched stocks on Wall Street this week as investors look for fresh insight into the company’s artificial intelligence strategy, cloud computing growth, and long-term revenue outlook.
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With ORCL shares surging over the last year on booming demand for AI infrastructure and cloud services, the upcoming earnings report could serve as a major catalyst for the stock.
Analysts are expecting strong revenue and earnings growth, but the real focus will be on Oracle Cloud Infrastructure (OCI), AI-related demand, backlog expansion, and management’s guidance for fiscal 2027. Also, as competition intensifies across the AI and cloud computing markets, Oracle’s results could offer important clues about the next phase of growth for both the company and the broader AI sector.
What Wall Street Expects
Analysts are calling for ORCL to report EPS of $1.96 per share on revenue of about $19.1 billion, representing year-over-year growth of roughly 15% and 20%, respectively.
Oracle’s own guidance issued during its third-quarter report called for revenue growth of 19% to 21% and non-GAAP EPS between $1.96 and $2.00, putting current analyst expectations near the middle of management’s projected range.
And while earnings and revenue will matter, investors are likely to focus most heavily on Oracle Cloud Infrastructure (OCI) – which is expected to see revenue growth of about 90% year over year. Analysts will also listen for management commentary regarding capacity expansion, GPU availability, and future demand trends.
Fueling more upside, analysts at Bank of America, for example, just reiterated a buy on ORCL ahead of Wednesday’s earnings. “We reiterate our Buy rating and raise our PO to $240 from $200, based on 26.5x our CY27E P/E estimates vs 22x prior, as underlying demand trends remain robust across both cloud infrastructure and database workloads.”
Analysts at Oppenheimer reiterated an outperform rating on the ORCL stock with a price target of $275. The firm cited strong growth in Oracle Cloud Infrastructure (OCI), increased IT demand, and solid cloud earnings.
Analysts at Evercore reiterated an outperform rating on the stock with a price target of $245. The firm cited ongoing momentum in Oracle Cloud Infrastructure (OCI) and positive strategic positioning heading into the company’s fiscal fourth-quarter earnings.
Backlog Growth Could Be Another Catalyst
Another key metric is Remaining Performance Obligations (RPO), which represents contracted future revenue. Analysts expect Oracle’s backlog to continue climbing toward record levels, potentially approaching $600 billion.
That could provide further evidence that demand for Oracle’s cloud and AI services remains exceptionally strong and could support revenue growth for years to come. Strong RPO growth has been one of the primary drivers behind Wall Street’s increasingly bullish outlook on Oracle over the last year.
Analysts will also be listening for strong 2027 guidance, in addition to updated revenue targets, cloud growth forecasts, and capital expenditure plans. Any indication that AI demand continues to exceed Oracle’s available capacity could be viewed positively by investors.
Oracle’s AI Growth Story in Focus
In short, ORCL enters its June earnings report as one of the market’s most closely watched AI infrastructure plays. With Wall Street expecting approximately $19.1 billion in revenue and earnings of $1.96 per share, the focus will extend far beyond the headline numbers. Investors will be watching OCI growth, backlog expansion, AI-related demand, and fiscal 2027 guidance for clues about Oracle’s next phase of growth. If management can demonstrate that its AI-driven cloud momentum remains intact, Oracle could reinforce its position as one of the biggest beneficiaries of the ongoing artificial intelligence boom.
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