content: <PAGE>
   
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D. C.  20549
  
                                   ___________
  
                                    FORM 8-K
  
                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
  
  
  
         Date of Report (Date of earliest event reported): May 20, 1999
  
  
  
                              PORTAL SOFTWARE, INC.
               (Exact Name of Registrant as Specified in Charter)
  
  
           Delaware                  000-25829                   77-0369737
  (State or Other Jurisdiction    (Commission File             (IRS Employer
         of Incorporation)             Number)               Identification No.)
   
  
                          20883 Stevens Creek Boulevard
                          Cupertino, California  95014
          (Address of Principal Executive Offices, Including Zip Code)
  
  
       Registrant's telephone number, including area code: (408) 343-4400
  <PAGE>
   
  Item 5.       Other Events
  
  On May 20, 1999, Portal Software, Inc. ("Portal") announced its financial
  results for the first quarter ended April 30, 1999.
  
  Item 7.       Financial Statements, Pro Forma Financial Information and Exhibits
  
  
  Exhibit 99.1  Press Release dated May 20, 1999
  
                                   SIGNATURES
  
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                  PORTAL SOFTWARE, INC.
   
  Dated:  May 20, 1999            By:  /s/ JACK L. ACOSTA
                                     --------------------------
                                       Jack L. Acosta
                                       Chief Financial Officer
                                       and Vice President, Finance
  <PAGE>
   
                                   EXHIBIT INDEX
  
  Exhibit                     Description
  -------                     -----------
  
  99.1               Press Release dated May 20, 1999
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 2111}]
metadata_filer: {"company-data": {"conformed-name": "PORTAL SOFTWARE INC", "cik": "0001080306", "assigned-sic": "7371", "irs-number": "77036737", "state-of-incorporation": "CA", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25829", "film-number": "99631585"}, "business-address": {"street1": "20883 STEVENS CREEK BLVD", "city": "CUPERTINO", "state": "CA", "zip": "95014", "phone": "4083434400"}, "mail-address": {"street1": "20883 STEVENS CREEK BLVD", "city": "CUPERTINO", "state": "CA", "zip": "95014"}}
text: SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D. C.  20549
  
                                   ___________
  
                                    FORM 8-K
  
                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
  
         Date of Report (Date of earliest event reported): May 20, 1999
  
                              PORTAL SOFTWARE, INC.
               (Exact Name of Registrant as Specified in Charter)
  
           Delaware                  000-25829                   77-0369737
  (State or Other Jurisdiction    (Commission File             (IRS Employer
         of Incorporation)             Number)               Identification No.)
   
  
                          20883 Stevens Creek Boulevard
                          Cupertino, California  95014
          (Address of Principal Executive Offices, Including Zip Code)
  
       Registrant's telephone number, including area code: (408) 343-4400
  Item 5.       Other Events
  
  On May 20, 1999, Portal Software, Inc. ("Portal") announced its financial
  results for the first quarter ended April 30, 1999.
  
  Item 7.       Financial Statements, Pro Forma Financial Information and Exhibits
  
  Exhibit 99.1  Press Release dated May 20, 1999
  
                                   SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                  PORTAL SOFTWARE, INC.
   
  Dated:  May 20, 1999            By:  /s/ JACK L. ACOSTA
                                     --------------------------
                                       Jack L. Acosta
                                       Chief Financial Officer
                                       and Vice President, Finance
  EXHIBIT INDEX
  
  Exhibit                     Description
  -------                     -----------
  
  99.1               Press Release dated May 20, 1999