Oracle's AI cloud backlog surges past $664 billion, stock jumps about 7% on earnings
Oracle reported fiscal Q1 2027 earnings (period ending August) on September 11, with cloud infrastructure revenue up 121% year-over-year to $7.39 billion. Remaining performance obligations (RPO) — Oracle's cloud backlog — reached $664 billion, up $209 billion from a year earlier and above analyst estimates of roughly $639.9 billion, with more than $30 billion of additional AI cloud contracts booked in the quarter alone. Adjusted earnings came in at $1.92 a share versus a $1.74 consensus, while revenue rose 30% year-over-year to $19.35 billion. Management said it expects about half of the backlog to convert to revenue within 36 months; shares jumped roughly 7% following the report.
Verification note: Summarized from 24/7 Wall St. and Investing.com/Reuters reporting. Refer to Oracle's official filings and SEC disclosures for confirmed figures.