Photo credit: Raysonho @ Open Grid Scheduler, via WikimediaCommons

Oracle ORCL reported third-quarter earnings of 97 cents per share on Thursday, which beat the analyst consensus estimate of 96 cents by 1.04%. This is an 11.49% increase over earnings of 87 cents per share from the same period last year.

The company reported quarterly sales of $9.796 billion, which beat the analyst consensus estimate of $9.75 billion by 0.47%. This is a 1.85% increase over sales of $9.618 billion in the same period last year.

"We had an extremely strong quarter with total revenues growing 3% in constant currency," Oracle CEO Safra Catz said in a statement. "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 shares were trading up 3% at $41 in Thursday’s after-hours session. The stock has a 52-week high of $60.50 and a 52-week low of $39.74.