PeopleSoft Raises 3Q Forecast

Pleasanton-based PeopleSoft said results likely will exceed the targets the company it set on Sept. 4 - revenue of roughly $575 million to $590 million and earnings of 10 cents to 11 cents a share, excluding the effect of purchase accounting and deferred revenue.

Analysts surveyed by Thomson First Call forecast, on average, third-quarter earnings of 11 cents a share on revenue of $587.2 million.

PeopleSoft didn't say by how much it expects results will exceed its earlier forecasts. It is scheduled to report third-quarter results later this month.

The company completed its $1.8 billion merger with J.D. Edwards in late August.

"The powerful combination of PeopleSoft and J.D. Edwards is already exceeding our expectations," PeopleSoft Chief Financial Officer Kevin Parker said in a statement.

PeopleSoft is the target of a $7.3 billion hostile takeover bid from rival Oracle Corp. Oracle's $19.50-per-share bid, which has been extended several times, is set to expire Oct. 17.

Shares of PeopleSoft were at $20.50 in early trading Monday, up 69 cents, or 3.5 percent, on the Nasdaq Stock Market.

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