Oracle Reports Double-Digit Gains In Sales, EarningsOracle Reports Double-Digit Gains In Sales, Earnings

Oracle is having a very good day. The company won its long battle to acquire PeopleSoft Inc. and also reported that second-quarter sales and earnings saw double-digit growth in its second quarter ended Nov. 30.

Sales in the quarter jumped 10% from the same period one year ago to $2.76 billion. Software revenue rose 13% to $2.22 billion, and services revenue increased 1% to $533 million. New software license sales, a key growth indicator, were up 14% to $971 million, led by a 57% surge in new application sales. Revenue from software license updates and product support increased 12% to $1.25 billion.

Second-quarter net income increased 32% to $815 million, or 16 cents per share.

The financial results weren't scheduled to be revealed until Dec. 16, but the announcement was moved up because of the PeopleSoft acquisition.