Oracle rises after it announces monster $30 billion annual revenue contract starting in fiscal 2028
Oracle rose sharply in early trading after it disclosed a new $30 billion contract and backed its 2026 guidance.
In a Monday morning regulatory filing, the tech giant said CEO Safra Catz is set to announce that the company has signed new cloud services contracts, including one that’s expected to generate more than $30 billion in annual revenue starting in its fiscal year 2028. For perspective on the size of that deal, Oracle’s entire revenue for fiscal year 2025, which just ended in May, was $57 billion.
Oracle also gave a de facto backing of its annual guidance for this year, saying that the contracts it has signed won’t affect guidance for fiscal 2026, which it gave during its June 11 earnings report.
President Trump also said Monday morning that the government has identified a potential buyer for TikTok, the popular social media app owned by Chinese company ByteDance. Oracle has been seen as a top contender for a potential forced TikTok buy, which has been put off several times now.
