Oracle stock rises 7% after CEO touts strong start to fiscal year

Investing.com -- Oracle Corporation (NYSE: ORCL) stock rose 7% in premarket trading after CEO Safra Catz indicated the company is experiencing a strong start to fiscal year 2026, with continued robust growth in its cloud business.

According to an SEC filing, Catz plans to tell colleagues that Oracle’s MultiCloud database revenue continues to grow at over 100%. She will also note that the company has signed multiple large cloud services agreements, including one expected to contribute more than $30 billion in annual revenue starting in fiscal year 2028.

The positive outlook comes as Oracle continues to expand its presence in the competitive cloud computing market. The stock’s premarket jump was further supported by an upgrade to "buy" from Stifel, which helped boost investor sentiment.

Oracle has been focusing on strengthening its cloud infrastructure offerings to compete with larger rivals like Amazon (NASDAQ: AMZN) Web Services, Microsoft (NASDAQ: MSFT) Azure, and Google (NASDAQ: GOOGL) Cloud. The company’s MultiCloud database service has become a key growth driver as more enterprises adopt hybrid and multi-cloud strategies.

The $30 billion cloud agreement mentioned by Catz represents a significant win for Oracle as it continues to secure large enterprise customers for its cloud services.

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