Updated from 5:17 a.m. EST

REDWOOD SHORES, Calif. ( TheStreet -- Oracle ( ORCL) 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."

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