Strong quarter for Oracle as it nears Sun buy

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.