By Daniel Sparks
Publication Date: 2026-06-09 03:56:00
Cloud and database company oracle (ORCL 0.87%) reports fiscal fourth quarter results – for the period ended May 31 – after the market closes on Wednesday, June 10. And the revenue and the earnings headlines may not be what moves the stock. The number investors will likely focus on is Oracle’s remaining performance obligations (RPO), or the dollar value of signed contracts that have not yet been recognized as revenue. This has become one of the clearest indicators of how big the demand for AI computing actually is.
Furthermore, this report is current. AI and chip stocks saw a sell-off last week, and Oracle itself slipped nearly 10% on June 5. And at the time of writing, shares are trading at around $212 – well below the 52-week high of over $345, but up significantly from a low of nearly $150 in February.
It’s been a volatile performance for the stock, and the backlog is a big reason why.
Image source: Getty Images.
The backlog that rewrote Oracle history
A year ago, this key metric was rarely discussed. Oracle’s RPO…
