Oracle shares were falling in after-hours trading after the software giant missed revenue estimates for its fiscal fourth quarter and reported no revenue growth for its full fiscal year.
For the quarter ending May 31, Oracle reported total sales of $10.4 billion, representing a drop of 4% year-over-year on a constant currency basis. Analysts polled by FactSet were expecting revenue of $10.6 billion for the quarter. The company also posted GAAP earnings of 99 cents per share versus a consensus of 95 cents.
In a statement, Oracle CEO Safra Catz highlighted the company's earnings growth.
"In Q4, non-GAAP earnings per share grew 5% in constant currency driven by strong performances in both our cloud infrastructure and cloud applications businesses," said Catz. "Our overall business did remarkably well considering the pandemic, but our results would have been even better except for customers in the hardest-hit industries that we serve such as hospitality, retail, and transportation postponing some of their purchases. Still, for the third year in a row, we delivered double-digit constant currency earnings per share growth in FY20."
The company also announced a dividend of $0.24 per share of outstanding common stock, to be paid to shareholders in July.
For the full fiscal year, Oracle's revenues were $39.1 billion, down 1% year-over-year and flat in constant currency. Analysts were expecting full-year revenue of $38.92 billion. Cloud services and license support revenues were $27.4 billion, up 4% in constant currency. Cloud license and on-premise license revenues were $5.1 billion.
Oracle shares were roughly flat year to date heading into earnings, and closed Tuesday's trading session at $54.59.