Oracle’s revenue takes a hit

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Earnings may have been up for Oracle in the first quarter of fiscal year 2010, but, compared to last year, the database giant's sales have fallen significantly.

Profits hit $1.1 billion (£0.66 billion), keeping in line with analyst expectations, but sales revenues dropped by seven per cent from $5.4 million to $5.1 billion.

New software licences also took a heavy hit with revenues plummeting by 17 per cent to $1 billion.

Oracle cited the reduced value of foreign currencies compared to the US dollar as an impact on its share prices but there was no escaping the losses when compared to the successful figures of last year.

The company has been under the spotlight recently due to its hot topic acquisition of Sun Microsystems.

The headline-grabbing story has seen the company offer $7.4 million for Sun but the deal has been held up by a European Commission anti-trust probe.

It will decide whether competition could be harmed by the deal, which would see Oracle take control of Sun’s MySQL database on top of its own, but it is not due to give its verdict until early 2010.

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