(Bloomberg) -- Oracle Corp. expects to generate about $65 billion in annual revenue by fiscal year 2026, an outlook executives first provided a year ago, in a lukewarm message to investors disappointed by the software maker’s most-recent quarterly results.
Executive Vice President Doug Kehring, speaking Thursday at Oracle’s annual conference for financial analysts, said he is confident the company will reach its revenue target as well as earlier forecasts for a 45% operating margin by fiscal year 2026 and annual growth in earnings per share of more than 10%.
“We’ve got Google clearly in our sights at the moment,” Kehring said of the company’s cloud infrastructure business, which generated $5 billion in the fiscal year ending in May 2023, only about 10% of total company revenue. Many analysts wrote ahead of Thursday’s event that they expected Oracle to maintain its outlook. The company needs to average about 9% annual sales growth over the next three fiscal years to reach its goal.
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