Oracle (ORCL) logged an in-line 10% increase in fiscal fourth-quarter profits on Thursday and doubled its dividend, but the business software maker’s sales unexpectedly stalled amid trouble on the hardware front. 

Shares of the Larry Ellison-run company retreated more than 8% in extended trading on the weaker-than-expected revenue figures.

Oracle said it earned $3.8 billion, or 80 cents a share, last quarter, compared with a profit of $3.45 billion, or 69 cents a share, a year earlier.

On a non-GAAP basis, the company said it earned 87 cents a share, matching consensus calls from analysts.

Revenue was unchanged at $10.9 billion and non-GAAP revenue was flat at $11.0 billion, trailing the Street’s view of $11.1 billion.

Oracle said its new software licenses and cloud software subscriptions inched up 1% to $4.03 billion, while software license updates and product support rose 6% to $4.40 billion. Overall, software revenue increased 4% to $8.43 billion, totaling 77% of the company’s total top line.

On the hardware front, Oracle’s systems products revenue slumped 13% to $849 million and systems support sales dipped 3% to $582 million. Overall hardware revenue decreased 9% and now accounts for 13% of Oracle’s revenue, compared with 14% a year earlier.

Oracle said services revenue slid 9% to $1.09 billion.

Despite the sales miss, Oracle said its board of directors approved a plan to boost the company’s dividend to 12 cents a share, compared with 6 cents a share previously. The new payout will be payable on August 2 to shareholders of record as of July 12.

The Oracle board also authorized an additional $12 billion of share buybacks under its existing repurchase program.

Separately, Oracle unveiled plans to transfer its common stock listing from Nasdaq OMX Group (NDAQ) to NYSE Euronext’s (NYX) New York Stock Exchange, which is being acquired by IntercontinentalExchange (ICE).

Oracle said it will begin trading on the Big Board on July 15 under the ticker symbol “ORCL.”

Shares of Redwood City, Calif.-based Oracle tumbled 7.02% to $30.87 in extended trading on Thursday. The selloff threatens to extend Oracle’s yearlong underperformance, with its stock down 0.33% on the year as of Thursday’s close.

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