Oracle logged double-digit revenue growth in its most recent quarter and set its sights on even bigger gains in the fiscal year ahead, pushing shares higher after hours.

Chief Executive Safra Catz said Wednesday the cloud-services company now expects $67 billion in revenue for fiscal 2026, which started this month. That would be a 16% jump from the prior year and more than $1 billion higher than Oracle had previously estimated, she said.

The company is also on track to exceed the revenue growth target it previously gave for fiscal 2027, according to Catz. "We have a clear line of sight to future revenue growth," she said on a call with analysts.

The stock jumped 7%, to $189, in after-hours trading.

The higher growth rates are expected to be driven by both Oracle's cloud applications and cloud infrastructure businesses, executives said. The Austin, Texas, company is forecasting its total cloud growth rate, which accounts for both applications and infrastructure, to rise 40% this fiscal year, compared with 24% in the prior one.

Cloud infrastructure revenue, which surged 50% in the previous fiscal year, should soar 70% this time around, Oracle said.

"We will build and operate more cloud infrastructure data centers than all of our cloud infrastructure competitors combined," Chairman Larry Ellison said on the call.

For the fiscal fourth quarter ended May 31, Oracle's revenue was up 11%, at $15.9 billion. That topped analyst forecasts for $15.58 billion, according to FactSet.

Cloud services and license support revenue was up 14% during the quarter, while cloud license and on-premise license revenue gained 9% year-over-year.

Quarterly earnings jumped to $3.43 billion, or $1.19 a share, from $3.14 billion, or $1.11 a share, in the same period a year earlier. Stripping out one-time items, adjusted earnings were $1.70 a share. Analysts polled by FactSet had been expecting $1.64 a share.