Oracle Corporation Q1 FY2027 Earnings Results vs. Expectations
ReportsSep 10, 2026
SlotAfter Market Close
Results are out
This quarter has reported. The consensus below is what we expected going in.
What the Street expects
EPS · NON-GAAP
$1.74
consensus · not yet reported
QoQ−17.5%
YoY+18.4%
Revenue
$19.13B
consensus · not yet reported
QoQ−0.3%
YoY+28.2%
QoQ and YoY are what the consensus implies against the prior quarter and the prior year.
Also on the card
Company guidance
Revenue +27% to +29%; non-GAAP EPS $1.72 to $1.76 in USD
Cloud guidance
Total cloud revenue +58% to +64% in USD
Prior quarter
Q4 FY2026 non-GAAP EPS $2.11 including one-time investment gains; $2.03 excluding them
Consensus source
press-reported estimate feeds, 10 September 2026; Nasdaq's own EPS consensus sits on a different basis
What to watch
- RPO, and how much of the increase is one customer. The May quarter added $85 billion. Oracle said most of that increase came from a small number of large contracts; the concentration matters more than the total, because a backlog resting on a few counterparties is a diff…
- Whether total cloud revenue lands in the guided 58% to 64% USD growth band. This is the line that converts backlog into revenue, and the one place the guide is specific.
- Capital expenditure for the quarter, and any change to the full-year plan. Fiscal 2026 ran $55.7 billion. A step up from there is the clearest signal that the contracted demand is real; a step down would say something about the pace of conversion.
- Free cash flow, and how the gap was financed. Negative is expected. The question is the size and whether it is funded with more senior notes.
- Whether the full-year guide moves. Oracle confirmed $90 billion of fiscal 2027 revenue and raised non-GAAP EPS guidance to $8.05 on 10 June. Both were set before this quarter's bookings.
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2025 Q3 | — | $1.02 | — |
| 2025 Q4 | — | $1.19 | — |
| 2026 Q1 | — | $1.01 | — |
| 2026 Q2 | — | $2.10 | — |
| 2026 Q3 | — | $1.27 | — |
| 2026 Q4 | — | $1.45 | — |
| 2027 Q1 | $1.74 | $1.92 | +10% |
| 2027 Q2 | — | not yet reported | — |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Every quarter
Read the full preview → Q1 FY2027 release page View ORCL stock page