Strong quarter for Oracle as it nears Sun buy

Summary:In the wake of reporting its best second-quarter operating margin ever, Oracle says it expects the EU to approve its purchase of Sun

Business software maker Oracle has reported second-quarter net income of $1.5bn, or 29 cents a share, on revenue of $5.9bn, up four percent from a year ago.

On a non-Gaap basis, Oracle said on Thursday it had earnings of 39 cents a share, three cents better than Wall Street estimates. Oracle's second-quarter sales were also better than the $5.7bn (£3.5bn) expected by Wall Street.

In a statement, Oracle said it had had its best second-quarter operating margin in its history. In addition, its third-quarter outlook was strong. It projected Gaap earnings of 36 to 38 cents a share, or 30 to 33 cents a share in constant currency. Wall Street is expecting  full earnings of 29 cents a share and non-Gaap earnings of 36 cents a share.

Meanwhile, Oracle said it expected the EU to approve its acquisition of Sun. Oracle president Safra Catz confirmed reports that the EU was leaning toward approval of the merger. On a conference call, Catz said that the Department of Justice, advisers and other US representatives were helpful in dealing with the EU and getting a good outcome.

For more on this story, see Oracle: Delivers strong quarter; Outlines plans for Sun on ZDNet.com.

Topics: Networking

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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