RealTime IT News

PeopleSoft Boosts Revenue Expectations

PeopleSoft raised its revenue expectations for the second time in little over a month, as officials touted the results of the enterprise software maker's merger with enterprise software company J. D. Edwards.

As a result of improving license revenue, the Pleasanton, Calif.-based PeopleSoft expects to exceed its revenue expectations of about $590 million when it releases its next quarterly results.

It also said it expects earnings per share to come in higher than the 10 cents to 11 cents per share estimated it laid out in early September, not counting some special charges.

As Kevin Parker, PeopleSoft chief financial officer put it: "The powerful combination of PeopleSoft and J.D. Edwards is already exceeding our expectations."

The news lifted PeopleSoft's share price during mid-morning trading Monday as well as the spirits of the software company, which is still working to fend off a hostile $7.3 billion takeover bid by rival software maker Oracle .

Oracle announced its intentions back in June.

PeopleSoft has been touting the culmination of its acquisition of J.D. Edwards in past months, and have been predicting steadily increasing revenues as a result of the deal.

Back in July, PeopleSoft executives told a largely skeptical investment community it would see stellar results from the merger of the two software companies. In a statement today Craig Conway, president and CEO of PeopleSoft, said the merger has definitely helped the company's bottom line.

"When you offer customers better software, a choice of databases and you build on their existing product investments, they buy more," he said.