New York: Oracle Corp has reported a 8 percent growth in net income to USD 3.5 billion in the three months period ended in May 31, 2012 driven by sales of new software licenses.
In a surprised move, Oracle announced its fourth quarter earnings late Monday, which were scheduled for Thursday release.
It, however, didn't give any reason for the early announcement, but according to media reports the move was expected to be triggered by the departure of a top sales executive.
The company's total revenues were up one percent from the year-ago period to USD 10.9 billion in the fourth quarter ended May 31, 2012, Oracle said in a statement.
Oracle said new software sales, a key indicator of the company's performance, grew by five percent to USD 4 billion in the reported period.
However, the company said its revenue from software licensing would have accelerated by 11 percent if currency exchange rates had remained at the same level as last year.
"Our record-breaking fourth quarter featured several all-time highs for Oracle: new software licence sales of USD 4 billion, total software revenue of USD 8 billion, total revenue of USD 11 billion, and earning per share of 82 cents," Oracle President and CFO Safra Catz said.
Besides, Oracle also added USD 10 billion to its existing share buyback programme.
"Oracle also announced that its Board of Directors authorised the repurchase of up to an additional USD 10 billion of common stock under its existing share repurchase programme in future quarters," the company said.
In terms of geographical analysis, Oracle's quarterly revenues from Asia Pacific region increased from USD 1.72 billion to USD 1.83 billion, revenues from Americas operation climbed to USD 5.77 billion from USD 5.48 billion.
Although, the company's revenues in Europe, Middle East and Africa regions tumbled to USD 3.31 billion in the latest quarter from USD 3.56 billion in the same quarter last fiscal.
The company's revenue from the sale of hardware products during the quarter under review fell 16 percent from the year-ago period to USD 977 million.
First Published: Tuesday, June 19, 2012, 16:20