Oracle called the third quarter of fiscal 2026 its best in 15 years with revenue up 22% to $17.2 billion and cloud infrastructure up 84% to $4.9 billion. The market rejoiced, sending the stock up nearly 10% in after-hours trading, Fortune’s Amanda Gerut reports. But under the hood, the enterprise software giant is blowing through cash. Its free cash flow clocked in at negative $24.7 billion over the trailing 12 months as its capital expenditures rocketed to a guided $50 billion this fiscal year, mostly for AI data centers.
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