REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Tuesday reported fiscal fourth-quarter profit of $3.12 billion.
The Redwood City, California-based company said it had profit of 99 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.20 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The software maker posted revenue of $10.44 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $10.62 billion.
For the year, the company reported profit of $10.14 billion, or $3.08 per share. Revenue was reported as $39.07 billion.
Oracle shares have increased 3% since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 3%. In the final minutes of trading on Tuesday, shares hit $54.59, a climb of almost 3% in the last 12 months.