(MENAFN) Oracle's CFO, Safra Catz, announced the company's solid fourth-quarter financial results late Monday, reported AP.
Catz said that for the 3-months period ended in May, net income rose 8 percent to USD3.45 billion, compared with USD3.2 billion recorded in 2011's same period.
Moreover, revenue during the quarter was up 1 percent, reaching USD10.9 billion, slightly beating analyst expectations; however, it would have risen by 5 percent from 2011's same period, if the dollar wasn't that strong.
He added that software licensing revenue of the business software maker would have gone up by 11 percent if currency exchange rates had stayed at the same level as a year ago.
On the other hand, revenue from hardware products sales dropped 16 percent from last year's same period, whereas sales of new software licenses grew 7 percent, a sign of strong demand for the company's technology.
It is worth noting that in Oracle's past fiscal year, the company bought back 207 million shares with around USD6 billion, whereas it plans to spend another USD10 billion to buy back its stock.
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