Oracle 2010 revenue surges 15 per cent

Oracle profit leaps 25 per cent

Database giant Oracle posted a revenue increase for financial year 2010 of 15 per cent, to $26.8bn (£18bn), with full-year profits up 23 per cent to $6.1bn (£4.1bn).

These are the first results posted by Oracle following the EU ratification of its acquisition of Sun for $7.4bn (£5bn) in January.

Oracle posted revenue up 39 per cent at $9.51bn (£6.4bn), with increased profits of 25 per cent to $2.4bn (£1.9bn).

Oracle CFO Jeff Epstein explained that Oracle had improved its top and bottom lines quarter on quarter, and that it had sold $1.2bn (£800m) of Sun systems throughout the 12 weeks.

Oracle president Charles Phillips thinks the applications battle with SAP is going Oracle's way: "We are still taking large chunks of market share away from SAP,” he said.

"Oracle’s applications business has grown 60 per cent in the last four years while SAP’s business is 7 per cent smaller than it was four years ago,” Phillips added.

Oracle announced new software licence revenues for 2010 up 6 per cent to $7.5bn (£5bn), while software licence updates and product support revenues were up 11 per cent to $13.1bn (£8.8bn).