ORACLE: On Cloud Nine With $455B Backlog

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Strong Q1 FY26 Earnings Driven by Cloud Expansion

Oracle delivered a robust Q1 FY26, with total revenue of $14.93B, up 12% YoY (11% cc), led by strong cloud growth. Cloud revenue climbed 28% YoY to $7.19B, offsetting modest declines in legacy software. GAAP operating income grew 7% to $4.28B, while non-GAAP operating income rose 9% to $6.24B. GAAP diluted EPS dipped 2% to $1.01, but non-GAAP EPS improved 6% to $1.47. Importantly, Remaining Performance Obligations surged 359% YoY to $455B, reinforcing confidence in multi-year contracted growth visibility.