Oracle 2010 revenue surges 15 per cent

First figures released after EU ratification of Oracle's acquisition of Sun also show profits for financial year 2010 up 23 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).