Oracle's net profit climbed 27 per cent to $2bn (£1bn) in the fourth quarter, matched by a 24 per cent rise in revenue to $7.2bn (£3.6bn).

Software sales jumped 27 per cent, beating the predicted 10 to 20 per cent increase forecast in March. But the company has said that it expects overall revenue to swell by 18 to 20 per cent during the current quarter, a slower rate than in recent periods.

"The fact that we put up these results in these times demonstrates our strategy is working," said chief financial officer Safra Catz, in a conference call.

Oracle shares fell by 76 cents to $21.79 (£11) in extended trading, following yesterday's announcement.