Oracle has reported an increase of 4% in total revenues to $5.9bn in the second quarter of fiscal 2010, compared to $5.6bn in the same period last year. Software license revenues were up 2% to $1.7bn. Software license updates and product support revenues were up 14% to $3.2bn.

For the quarter ended November 30, 2009, operating income was up 10% to $2.2bn, compared to $2bn in the second quarter of 2008. Operating margin was up 197 basis points to 37% of revenues, compared to 35% of revenues in the same period last year.

The company posted a net profit of $1.45bn, up 12% compared to $1.3bn in the same period a year ago. Earnings per share were $0.29, up 15% compared to $0.25 in the same period last year.

Safra Catz, president of Oracle, said: “We expect the European Commission to unconditionally clear the acquisition of Sun in January. I want to thank all of our customers for the overwhelming support they have given us during this process.”

Jeff Epstein, executive vice president and CFO of Oracle, said: “We delivered results which were substantially better than we expected on both the top and bottom line, growing non-GAAP operating margins by 280 basis points to 49%, the highest Q2 non-GAAP operating margin in our history. Our solid top line growth, coupled with disciplined expense management, was key in generating $8.4bn of free cash flow over the last twelve months.”