Comment An industry adage has it that Oracle's calculator only has a plus button , which is reassuring for investors.

Yesterday, they were effusive with praise for Big Red over projected revenues as its share price soared more than 27 percent , and CTO and co-founder Larry Ellison was positioned to overtake Elon Musk as the world's richest person. But something doesn't add up.

The analyst excitement – "this is a career event happening right now, it's just amazing," one said – is based on anticipated future earnings from remaining performance obligations (RPOs) in the first quarter of its 2026 fiscal year. These are contracts signed but not yet paid for. Oracle said the figure had risen to $455 billion.

"This is up 359 percent from last year and up $317 billion from the end of Q4 [2025],

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