NEW YORK ( TheStreet) -- Shares of Oracle ( ORCL) caught a bounce in late trades on Monday after the IT giant delivering above-consensus quarterly earnings and added a hefty $10 billion to its existing buyback program. The Redwood Shores, Calif.-based company, which has been dealing with low growth and a rare earnings miss a few quarters ago, posted a non-GAAP profit of $4.1 billion, or 82 cents a share, for its fiscal fourth quarter ended in May with revenue on the same basis totaling $11 billion. New software license revenue jumped 7% year-over-year to $4 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 78 cents a share on revenue of $10.89 billion in the latest three-month period.
"Our record-breaking fourth quarter featured several all-time highs for Oracle: new software license sales of $4 billion, total software revenue of $8 billion, total revenue of $11 billion, and EPS of 82 cents," said Safra Catz, the company's president and chief financial officer. "For the fiscal year, we also set all-time highs for operating margins of 46%, and operating cash flow of $13.7 billion." CEO Larry Ellison was extremely positive on the development of Oracle Cloud. "Our Oracle Cloud SaaS business is nearly at a billion dollar revenue run rate, the same size as our engineered systems hardware business. The combination of engineered systems and the Oracle Cloud will drive Oracle's growth in FY 2013," Ellison said in the press release. Along with the strong earnings report, which wasn't expected until Thursday, Oracle said its board has approved an additional $10 billion stock repurchase authorization. The board also declared its regular quarterly cash dividend of 6 cents per share. Shares of Oracle closed lower in Monday trading, off 2.09% to $27.12. The stock was last quoted at $27.87, up 2.8%, on after-hours volume of nearly 1 million, according to Nasdaq.com. In the past 52 weeks, the stock is down roughly 13%, peaking last July at $34.13. Interested in more on Oracle? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull