Oracle to buy back $10 billion more in stock

Jun 19, 2012
Business software giant Oracle on Monday shook off rumors of a looming management shake-up and announced plans to buy back an additional $10 billion in stock.

Business software giant Oracle on Monday shook off rumors of a looming management shake-up and announced plans to buy back an additional $10 billion in stock.

Oracle shares gained ground on what had been a losing day of trading on the Nasdaq after the surprise early release of its report along with word the board of directors had approved the stock buy-back scheme.

The California-based company said that net income in its fourth rose eight percent to $3.5 billion on revenue that climbed a percent to $10.9 billion.

"Our record-breaking fourth quarter featured several all-time highs for Oracle," said chief financial officer Safra Catz.

High points for the quarter included software license sales of four billion dollars and overall software revenue of eight billion dollars, according to Catz.

Along with authorizing the repurchase of another $10 billion worth of Oracle stock the company's board declared a of six cents per share.

Oracle slid more than two percent during the trading day due to unconfirmed reports of a management shake-up in the works.

Oracle stock was lifted more than three percent to $27.98 in after-market trading that followed release of the earnings figures.

Explore further: Amazon launches 3D printing store

add to favorites email to friend print save as pdf

Related Stories

Oracle's profit tops Street, but worries surface

Jun 23, 2011

(AP) -- Oracle Corp.'s latest quarterly results Thursday underscore the critical role its software business plays despite its push to become a more well-rounded technology vendor by selling computer servers.

Oracle fiscal 3Q net income up 78 pct

Mar 24, 2011

(AP) -- Database software maker Oracle Corp. said Thursday its net income rose 78 percent in the fiscal third quarter, helped by a rise in new software license sales and the benefit of three full months of ...

Oracle's net rises 36 percent, but servers slip

Sep 20, 2011

(AP) -- Stronger spending on business software helped Oracle Corp.'s quarterly profit jump 36 percent, but the company's server business further deteriorated, a decline Oracle attributed to its move to shed ...

Oracle tops forecasts despite sales, profit dip

Jun 23, 2009

(AP) -- Software maker Oracle Corp.'s results topped Wall Street's forecast for the latest quarter Tuesday, despite a 5 percent drop in sales and a 7 percent decline in profit.

Oracle expects EU to approve Sun deal next month

Dec 17, 2009

(AP) -- Oracle Corp. said Thursday that its profit jumped 12.5 percent in the latest quarter and that it expects the European Union will finally approve its $7.4 billion purchase of Sun Microsystems Inc. ...

Recommended for you

Amazon launches 3D printing store

6 hours ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

Samsung delays Tizen smartphone sales launch

11 hours ago

Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.

Chinese portal Sohu reports $45 million loss

13 hours ago

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

User comments : 0