Shares of Oracle (ORCL) are up $1.65, or 6.1%, at $28.77 in late trading after the company this afternoon issued a surprise early report for its fiscal Q4, which showed revenue in line with consensus but better-than-expected profit per share. The company also said its board approved a $10 billion buyback plan.
The Street had been told to expect the report on Thursday, after the bell.
Revenue in the three months ended in May rose 1%, year over year, to $10.9 billion, yielding EPS of 82 cents, excluding some items.
Analysts had been modeling $10.89 billion and 78 cents.
Oracle said its board of directors approved an additional $10 billion in share repurchases “in future quarters.”
Oracle’s new software license revenue rose 7%, year over year, on a non-GAAP basis, the company said. License update revenue was up 5%.
Hardware revenue fell 16% to $977 million, the same percentage decline as the prior quarter.
Oracle’s Oracle management will host a conference call with analysts at 6 pm this evening. You can access the webcast of the call here.
Update:�During the call, CFO�Safra Catz projected revenue growth this quarter in a range from negative 2% to positive 1%, at current exchange rates. That would be $8.23 billion to $8.48 billion, which, at the midpoint, would be below the $8.47 billion the Street has been modeling. However, the company sees non-GAAP EPS in a range of 51 cents to 55 cents, at current exchange rates, which is in line with the consensus 53 cents estimate.
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