Larry Ellison, Oracle's co-founder and chief technology officer, appears at the Formula One British Grand Prix in Towcester, U.K., on July 6, 2025.
Oracle is scheduled to report fiscal second-quarter results after market close on Wednesday.
Here's what analysts are expecting, according to LSEG:
Earnings per share: $1.64 adjusted
$1.64 adjusted Revenue: $16.21 billion
Wall Street expects revenue to increase 15% in the quarter that ended Nov. 30, from $14.1 billion a year earlier. Analysts polled by StreetAccount are looking for $7.92 billion in cloud revenue and $6.06 billion from software.
The report lands at a critical moment for Oracle, which has tried to position itself at the center of the artificial intelligence boom by committing to massive build-outs. While the move has been a boon for Oracle's revenue and its backlog, investors have grown concerned about the amount of debt the company is raising and the risks it faces should the AI market slow.
The stock plummeted 23% in November, its worst monthly performance since 2001 and, as of Tuesday's close, is 33% below its record reached in September. Still, the shares are up 33% for the year, outperforming the Nasdaq, which has gained 22% over that stretch.
Over the past decade, Oracle has diversified its business beyond databases and enterprise software and into cloud infrastructure, where it competes with Amazon , Microsoft and Google . Those companies are all vying for big AI contracts and are investing heavily in data centers and hardware necessary to meet expected demand.
OpenAI, which sparked the generative AI rush with the launch of ChatGPT three years ago, has committed to spending more than $300 billion on Oracle's infrastructure services over five years.
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