Shares of Oracle (ORCL) were wavering after the company beat estimates on both top and bottom lines.
The stock initially edged up in postmarket trading Thursday, before dipping slightly to $ 53.02.
Earnings per share for Oracle's fiscal year 2019 third quarter came in at 87 cents on an adjusted basis, with GAAP EPS hitting 76 cents. This beat Wall Street's expectations of adjusted EPS of 84 cents and a GAAP result of 65 cents. The 87 cent adjusted number is an 8% year-over-year increase. Revenue came in $9.61 billion, up 3% year-over-year, beating analysts estimates of $9.59 billion.
"I'm pleased with Q3 non-GAAP results as revenues grew 3%, operating income increased 5% and EPS grew 12% in constant currency," said Oracle CEO, Safra Catz. "We will comfortably deliver another year of double-digit EPS growth."
Oracle did not provide detailed guidance, but Catz mentioned management is looking for EPS growth in 2019 in the double-digit percentage range.
Notably, Warren Buffett's investment fund dumped its entire stake in Oracle in mid-February, just months after having revealed a $2 billion investment in the company.
Oracle shares are up 17% year-to-date.