Oracle Corp. (ORCL: Quote) reported that its fourth-quarter net income increased to $3.45 billion or $0.69 per share, from $3.21 billion or $0.62 per share in the same quarter last year.
Non-GAAP net income increased to $4.14 billion or $0.82 per share, from $3.87 billion or $0.75 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $10.92 billion from $10.78 billion in the prior year quarter. Thirty five analysts had consensus revenue estimate of $10.89 billion for the quarter.
The company said its Board of Directors also declared a quarterly cash dividend of $0.06 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 13, 2012, with a payment date of August 3, 2012.
Oracle also announced that its Board of Directors authorized the repurchase of up to an additional $10.0 billion of common stock under its existing share repurchase program in future quarters.
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by RTT Staff Writer
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