Oracle Corp. (NYSE: ORCL) released fiscal third-quarter financial results after markets closed Thursday. The firm said that it had $0.97 in earnings per share (EPS) and $9.8 billion in revenue, which compared with consensus estimates of $0.96 in EPS and revenue of $9.77 billion. In the fiscal second quarter of last year, the software giant said it had EPS of $0.87 on $9.6 billion in revenue.

Total quarterly revenues were slightly higher and up by 3% in constant currency, compared to the same period of last year. Cloud Services and License Support revenues totaled $6.9 billion, while Cloud License and On-Premise License revenues were $1.2 billion.

At the same time, short-term deferred revenues were $7.8 billion. Operating cash flow for the trailing 12 months was $13.9 billion.

The board of directors increased the authorization for share repurchases by $15.0 billion. The board also declared a quarterly cash dividend of $0.24 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on April 9, with a payment date of April 23.

Safra Catz, Oracle’s CEO, commented:

We had an extremely strong quarter with Total Revenues growing 3% in constant currency. Subscription revenues, made up of Cloud Services and License Support revenues, grew 5% in constant currency. These consistently growing and recurring subscription revenues now account for 71% of total company revenues, thus enabling a sequential increase in our operating margin, and double-digit non-GAAP Earnings Per Share growth in Q3.

Oracle stock traded up 13% at $45.04 early Friday, in a 52-week range of $39.71 to $60.50. The consensus price target is $54.85.

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