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PeopleSoft Promises Better-than-Expected Results

PeopleSoft Promises Better-than-Expected Results

Based on preliminary results, PeopleSoft expects its Q3 results to exceed expectations. It says that license revenues, total revenues and earnings per share would surpass its guidance. It attributed the results to its "powerful combination" with JD Edwards. What it didn't say was how much of this marvelous windfall can be traced to its extraordinary "hey-what-have-we-got-to-lose" money- back guarantees that Oracle will reimburse any customers who sign contracts if Oracle acquires PeopleSoft. Final results are due later this month. The news, which Goldman Sachs says is partially due to the JDE acquisition, nudged PeopleSoft stock up 3%. It previously said it would do 10-11 cents and $175 million-$190 million. PeopleSoft, which is run by Craig Conway, one of the guys ex-Oracle president Ray Lane says he fired back at the height of Oracle's old cowboy days in the '90s, was down 15% in the June quarter before the acquisition. Oracle CEO Larry Ellison said in response to PeopleSoft's better- than-guidance news that if his stockholders wanted a great quarter he could deliver "a helluva quarter but I don't think that's what you want. I think you want consistent performance."

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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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