REDWOOD CITY, Calif. – Oracle Corp. shares rallied in after-hours trading Thursday after the company posted better-than-expected revenue in its most recent quarter.
The Redwood City, California-based company reported fiscal fourth-quarter earnings of $2.81 billion, or 66 cents per share. Earnings, adjusted for one-time gains and costs, were 81 cents per share.
That fell just short of Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for adjusted earnings of 82 cents per share.
The software maker posted revenue of $10.59 billion in the period, topping Street forecasts. Thirteen analysts surveyed by Zacks expected $10.46 billion.
A year ago, Oracle earned $2.76 billion, or 62 cents per share, on revenue of $10.71 billion. Year over year, revenue was down 1 percent, or flat in constant currency.
But Oracle's cloud software and platform units posted revenue growth of 66 percent in U.S. dollars, or 68 percent growth in constant currency, to $690 million. For the first quarter, Oracle expects the units to post revenue growth between 75 and 80 percent.
For the full year ended May 31, the company reported profit of $8.9 billion, or $2.07 per share. Revenue was reported as $37.05 billion.
In after-market trading following the release of the earnings report, Oracle's stock added 85 cents, or 2.2 percent, to $39.49.
Through the close of regular-session trading Thursday, Oracle shares had increased roughly 6 percent since the beginning of the year, while the Standard & Poor's 500 index was up almost 2 percent.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORCL at http://www.zacks.com/ap/ORCL
Keywords: Oracle, Earnings Report