Software giant Oracle Corp. reported a loss for the third quarter of fiscal 2018 despite a 6% increase in revenues, as it booked a one-time net charge of $6.9 billion related to the new U.S. tax law.

The company posted a loss of $4.02 billion, or 98 cents per diluted share for the quarter that ended Feb. 28, compared with net income of $2.24 billion, or 53 cents per diluted share in the same period in the last fiscal year.

On a non-GAAP basis, Oracle posted net income totaling $3.51 billion, or 83 cents per diluted share, for the quarter from $2.89 billion, or 69 cents per diluted share.

Total revenue came in at $9.77 billion for the quarter, up 6% from the prior-year quarter's $9.21 billion. Total revenue in cloud and on-premise software rose 8% to $7.98 billion from $7.37 billion, driving the increase in total revenue.

Revenue from the company's hardware segment fell 3% to $994 million for the quarter from $1.03 billion, while services revenue came in at $796 million, down 2% from $812 million.

Operating expenses increased 2% to $6.36 billion for the quarter from $6.25 billion, while operating income rose 15% to $3.41 billion from $2.96 billion in the third quarter of fiscal 2017.

CEO Safra Catz said she feels confident that the company will deliver on the original forecast of double-digit non-GAAP EPS growth for the full fiscal 2018. She cited the 20% increase in non-GAAP EPS, which resulted in a 16% increase in year-to-date EPS growth.

Oracle said its board of directors declared a quarterly cash dividend of 19 cents per share, payable May 1 to stockholders of record as of the close of business on April 17.