By Felicity Ussher, 26 June 1998 10:48
NEWS Oracle's annual revenues rose 26 per cent in the last fiscal year to $7.1bn (£4.3bn). The record breaking total hides a 1 per cent drop in application business in the company's last quarter. Oracle's databases appear to have recovered from poor sales in 1997, and have reached a steady 13 per cent growth.
An Ovum study earlier this month criticised Oracle's corporate applications for lacking momentum. Laurent Lachal, financial software specialist at Ovum, said: "Oracle Financials is about to launch a revolutionary Java-based architecture, but the division may well be sold off because it has no one to pioneer it."
Oracle's most profitable business last quarter was customer services, its $1.17bn (£0.7bn) in revenues almost leapfrogged licensing revenues from the entire software division.
In total, revenues for the fourth quarter were $2.4bn (£1.5bn) - a 24 per cent rise from this time last year.
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