By Zacks Equity Research
Publication Date: 2026-03-19 15:51:00
Oracle Corporation ORCL is making one of the most aggressive infrastructure bets in enterprise technology, and its third-quarter fiscal 2026 results have heightened the debate about whether this capital-intensive pivot will ultimately pay off.
The company reported total revenue of $17.2 billion for the quarter ended February 28, 2026, an increase of 22% year-over-year. Cloud revenue increased 44% to $8.9 billion, with Oracle Cloud Infrastructure (“OCI”) leading the way with growth of 84% to $4.9 billion. Non-GAAP earnings per share rose 21% to $1.79. These numbers represent the first quarter in over 15 years in which both total organic revenue and non-GAAP EPS simultaneously grew by 20% or more – a milestone that underscores the extent of Oracle’s ongoing transformation.
But the headline that continues to grab the most attention is capital spending. Oracle has set its fiscal 2026 capital expenditure forecast at $50 billion, a figure that has increased significantly over the past year, driving up free cash…
