For the quarter the Redwood City, Calif.-based company reported earnings of 89 cents per share on revenue of $10.9 billion.
Analysts polled by FactSet were estimating earnings of 78 cents per share on revenue of $10.46 billion.
During its fourth quarter, Oracle's SaaS (Software as a Service) cloud revenues were up 67% to $964 million, when compared to the same period a year ago.
Non-GAAP SaaS fourth quarter revenues were up 75% to $1 billion, compared to the fourth quarter of 2016.
"Our fourth quarter results were very strong as revenue growth and earnings per share both substantially exceeded the high end of guidance," Oracle CEO Safra Catz said.
"We continue to experience rapid adoption of the Oracle Cloud led by the 75% growth in our SaaS business in Q4. This cloud hyper-growth is expanding our operating margins, and we expect earnings per share growth to accelerate in fiscal 2018," she added.
What's Hot On TheStreet
Alibaba's Jack Ma woos Detroit: TheStreet has spent the past two days in Detroit covering Alibaba's (BABA) - Get Report big hiring event in Detroit. We have had the opportunity to talk with Alibaba and take in how the Chinese tech company plans to grow jobs in America. But the real showstoppers have been the presentations with Alibaba's executive chairman Jack Ma, who as always hasn't been short on bold proclamations.
Said Ma in a keynote address Tuesday evening, "If you don't sell products in China, you will miss the future." Ma and other Alibaba executives have also sought to downplay the comparison to Amazon (AMZN) - Get Report . After spending a few days in Alibaba land, you understand where they are coming from. But, you are also reminded of how dominant Amazon is in the United States in so many categories (one soon to be organic food via Whole Foods (WFM) ).
Tesla mania continues: Tesla's (TSLA) - Get Report market cap is $60 billion and growing. At this point, Wall Street's obsession with all things Tesla has gotten out of control. Thestreet's Annie Palmer drills down into news Tesla could be opening a car-making plant in China. The last thing President Trump needs is a fight with Elon Musk on this one, Palmer reports.
Uber's embattled founder resigns: Uber Technologies Inc. founder and CEO Travis Kalanick has resigned from the ride-sharing company, TheStreet reports. The move comes just days after he was asked to take a leave of absence in the wake of a report into allegations of discrimination and bullying at the world's startup.
"I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight," Kalanick said in a statement given to the New York Times, which originally reported his departure.
Here is what Uber co-founder Garret Camp had to say this week about Uber's culture.
Check out TheStreet's new series: TheStreet has officially launched a new video series called Alpha Rising, where we will showcase all of the amazing women in business. TheStreet's Tracy Byrnes sits down with some of the top women kicking butt in business such as Birchbox' CEO Katia Beauchamp, who revolutionized the beauty business.
Don't miss these top stories from TheStreet:
- AMD Just Created a Super Chip, But Here's 11 Ways Intel Is Really Powering the Future
- Jim Cramer on Nvidia, Alibaba, Amazon, Adobe, FedEx, Uber, Intel, Nike, Carnival and TJX Companies
- Walmart Tries to Keep Vendors from Using Amazon's Cloud: Good Luck With That
- Closing Bell: Etsy Announces More Job Cuts; Health Care Gives Nasdaq Boost