Software maker Oracle has announced fourth quarter net revenues of $1.02bn (£569m), up three per cent from the last quarter.
The company says the acquisition and swift integration of PeopleSoft, and strong demand for its core database and middleware software products, helped deliver the better than expected results.
Oracle chief executive Larry Ellison cited Gartner, IDC and Morgan Stanley database surveys showing that Oracle is increasing database market share while IBM's DB2 database is in decline.
'This quarter marks an acceleration of that trend as more and more companies move their database applications off mainframes onto Oracle grids,' he said.
Company president Charles Phillips added that a combination of increased organic growth plus a carefully targeted acquisition strategy had pushed Oracle's revenue and profits to record levels.
'The global field organisation turned in a stellar performance with 130 per cent sequential growth in applications in the first full quarter past the PeopleSoft acquisition. Our emphasis on product specialisation is producing benefits that we expect to continue in 2006,' he said.
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