NEW YORK (
) - Shares of
edged up in after-hours action on Thursday after the company topped Wall Street's expectations with its fiscal third-quarter results and lifted its quarterly dividend by 20%.
Citing strong growth in both its software and hardware businesses, Redwood Shores, Calif.-based Oracle reported an adjusted profit of $2.76 billion, or 54 cents a share, for the three months ended Feb. 28, up from a year-ago equivalent profit of $1.95 billion, or 38 cents a share. Total revenue rose 37% to $8.8 billion in the latest quarter from $6.4 billion last year.
Oracle's CEO Larry Ellison
The average estimate of analysts polled by
was for earnings of 50 cents a share in the February-ended period on revenue of $8.67 billion.
New software licenses -- a key metric of growth -- jumped 29% to $2.2 billion in the latest quarter.
"Q3 performance was broad based with all geographies reporting revenue growth of 30% or higher," said Mark Hurd, the company's president, in a statement. "The sequential revenue growth for Exadata and Exalogic was up over 50%. And we expect to see an even higher growth rate for these two game changing technologies in Q4."
Oracle also upped its quarterly dividend to 6 cents per share from 5 cents per share. The higher payout is to be distributed on May 4 to shareholders of record on April 13.
The stock was last quoted at 32.25, up 11 cents, on volume of more than 3.5 million, according to
. Based on a regular session close at $32.14, the shares are up 22% in the past year.
is trying to reduce the $1.3 billion in damages awarded to Oracle
Written by Olivia Oran in New York.
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