Oracle (ORCL - Get Report) tumbled Friday after the software giant reported fiscal third-quarter adjusted earnings of 87 cents a share, beating forecasts by 3 cents, but issued a fourth-quarter outlook that disappointed investors.
The stock had declined 3% in trading earlier Friday but has come off lows and at last check was down 0.13% to $52.98.
Revenue in the period fell to $9.61 billion from $9.68 billion a year earlier but topped analysts' estimates of $9.58 billion.
Cloud-service and license-support revenue - the company's biggest segment - rose 1% to $6.66 billion and came in higher than forecasts of $6.64 billion.
Oracle said Thursday it has repurchased nearly $30 billion of its shares in the past nine months.
The company said it expects adjusted earnings in the fiscal fourth quarter of $1.05 to $1.09 a share, with revenue declining 2% or remaining flat, or $11.03 billion to $11.26 billion. Analysts has been calling for earnings of $1.05 a share on revenue of $11.14 billion.
"I expect the strengthening U.S. dollar will continue with a currency headwind of 3% for Q4 revenue and a 3-cent headwind to earnings per share," Co-CEO Safra Catz said on a conference call.
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