This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oracle Beats Street, Closes In on Sun

Updated from 5:17 a.m. EST

REDWOOD SHORES, Calif. ( TheStreet -- Oracle (ORCL - Get Report) beat Wall Street's estimates in its second-quarter results, and predicted that its protracted Sun (JAVA) acquisition will happen early next year.

Oracle, the database giant, reported revenue of $5.9 billion, up 4% on the same period last year, and above Wall Street's estimate of $5.69 billion.

Excluding items, Oracle earned 39 cents a share on net income of $2 billion, an increase of 15% and 12%, respectively, on the prior year's quarter. Analysts surveyed by Thomson Reuters had predicted earnings of 36 cents a share.

The numbers pushed Oracle's shares up 92 cents, or 4%, to $23.80 in extended trading Thursday. The stock was trading at around the same price in premarket action Friday.

"We delivered results which were substantially better than we expected on both the top and bottom line," said Oracle CFO Jeff Epstein, in a statement. "Our solid top-line growth, coupled with disciplined expense management, was key in generating $8.4 billion of free cash flow over the last twelve months."

On a GAAP basis, Oracle earned 29 cents a share on net income of $1.5 billion, increases of 15% and 12%, respectively on the second quarter of fiscal 2009.

Oracle also voiced its confidence about clinching its controversial $7.4 billion Sun acquisition.

Despite facing resistance to the deal from European regulators, Oracle appears to have eased Brussels' initial antitrust concerns.

"We expect the European Commission to unconditionally clear the acquisition of Sun in January," Safra Catz, an Oracle president, said in a statement. "I want to thank all of our customers for the overwhelming support they have given us during this process."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ORCL $40.33 0.00%
SAP $79.37 0.00%
AAPL $94.64 -0.20%
FB $116.73 0.00%
GOOG $691.02 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs