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Oracle earnings jump 15 percent in Q2

Oracle earnings jump 15 percent in Q2

Company President Safra Catz expresses confidence that EU will approve Sun acquisition

Oracle on Thursday reported second-quarter earnings of $0.29 per share, a rise of 15 percent over the same period last year. Total revenues rose 4 percent to $5.9 billion and net income jumped 12 percent to $1.5 billion.

New software license revenues, a key indicator of growth and stability, were up 2 percent to $1.7 billion.

Excluding special charges, earnings per share rose 15 percent to $0.39 on revenues of $5.9 billion, beating estimates from analysts polled by Thomson Reuters, who had on average predicted earnings of $0.36 per share on revenues of $5.7 billion.

The company also expects European regulators "to unconditionally clear" its acquisition of Sun Microsystems in January, Oracle President Safra Catz said in a statement. The deal has been on hold while the European Union conducts an antitrust review.

Sun will quickly improve its market share and financial performance once the merger closes, Oracle CEO Larry Ellison said in another statement.

(More to follow)


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