Software giant Oracle will have its earnings call on Thursday, a full month before rivals, and according to some reports, its prepping for something big – a new initiative, or even a product launch. Either way, it’s expected to report a tremendous amount of growth for Q3 2010.

“Oracle Corp is poised to provide fresh evidence of the upward curve of technology spending on Thursday, and to detail its battle plan against emerging competitor Hewlett-Packard Co as the two tech giants vie to lead the datacenter revolution.”

Analysts forecast Oracle’s profits in the fiscal quarter have jumped to 50 percent, compared to 38 percent in the same period a year before. They also forecast Oracle to reach $8.7 billion in revenue, up from $6.5 billion a year ago, which should wrap up Larry Ellison’s keynote on a positive note – at least from the Oracle perspective. YCMNET Advisors’ Michael Yoshikami noted that Oracle has a history of making “colorful remarks” about beating its competition – SAP, IBM and Hewlett-Packard. This year was no exception – the Oracle-HP clash rages on.

Oracle said it would stop making software for Intel’s Itanium chips, developed in conjunction which HP. According to Oracle, Intel execs allegedly indicated the chip was near the end of its life – Intel CEO denied the claim in a following statement. Hewlett-Packard also issued a statement, and retaliated by saying Oracle’s announcement was made to boost falling sales of Sun servers.

However notable Oracle and HP’s statements may be, Oracle is working hard to realize an edge over the competition in the real world as well. That’s apparently going very well, considering its Oracle Database 11g Running on Oracle’s SPARC Enterprise M9000 Server set a new world record with a TPC-H three terabyte non-clustered benchmark result. Incidentally, the announcement specifically noted “superior performance to HP and IBM” – while the latter recently partnered up with SAP to take down Oracle on the big data analytics front.