Oracle delivered better-than-expected fiscal second quarter results, touted its applications business vs. SAP and said it expects the European Union to "unconditionally clear the acquisition of Sun in January." Oracle also outlined some of its strategy for taking Sun hardware upmarket.
The company reported net income of $1.5 billion, or 29 cents a share, on revenue of $5.9 billion, up 4 percent from a year ago. On a non-GAAP basis, Oracle had earnings of 39 cents a share, 3 cents better than Wall Street estimates. Oracle's second quarter sales were also better than the $5.7 billion expected by Wall Street.
According to a statement, Oracle reported its best second quarter operating margin in its history. In addition, the third quarter outlook was also strong. Sun projected GAAP earnings of 36 to 38 cents a share, or 30 to 33 cents a share in constant currency. Wall Street is expecting fully loaded 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...
Read more of "Oracle delivers strong quarter, outlines plans for Sun" at ZDNet's Between the Lines.