Oracle, the provider of enterprise software and computer hardware products and services, reported its fiscal fourth-quarter earnings results. The database company earned 78 cents per share on revenue of about $10.72 billion for the period. Both figures missed Wall Street estimates. Analysts polled by Thomson Reuters were expecting the bottom line to come in at 86 cents per share on revenue of $10.92 billion.
Shares closed at $45, up nearly 1% in regular trading, but are down over 6% in late trading after the earnings report.
Oracle's revenue in the quarter was significantly impacted by the effects of a strengthening U.S. dollar. But, the company noted that its cloud software business was a strong suit in the quarter. Still, the company expects to book between $1.5 billion and $2 billion in new SaaS and PaaS business this fiscal year. SaaS is cloud software as a service, and PaaS is cloud platform as a service.
Oracle's planned SaaS and PaaS revenue growth rate is around 60% in constant currency, while rival company Salesforce.com (CRM) has a planned growth rate of around 20%. Oracle said its rapidly increasing cloud sales will likely translate into significantly more revenue and profits.
The company's board of directors declared a quarterly cash dividend of 15 cents per share of outstanding common stock. The dividend will be paid to stockholders on July 29.
Redwood City, Calif.-based Oracle is a provider of enterprise software and computer hardware products and services. The company operates through various segments, including new software licenses and cloud software subscriptions, cloud infrastructure-as-a-service, software license updates and product support, hardware systems products, hardware systems support, and services business.