Oracle just posted a quarter that would make most enterprise software companies blush. The company reported $19.3 billion in total revenue for its fiscal first quarter of 2027, a 30% jump year-over-year that topped Wall Street expectations of roughly $19.13 billion.
The real headline, though, is the backlog. Oracle’s remaining performance obligations, essentially the total value of contracts customers have committed to but haven’t paid for yet, ballooned to $664 billion. That’s up $209 billion from the same period last year.
Cloud infrastructure is the engine
Oracle’s cloud business did the heavy lifting this quarter, generating $11.6 billion in revenue, a 62% increase over the prior year. Within that, cloud infrastructure services were the standout performer, surging 121% to $7.4 billion.
Cloud applications, the more mature and slower-growing segment, added $4.2 billion, up 10%.
