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SAP posts 15% rise in quarterly profit

SAP posts 15% rise in quarterly profit
AFP
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First Published: Tue, Jul 27 2010. 11 44 AM IST
Updated: Tue, Jul 27 2010. 11 44 AM IST
Frankfurt: German professional software giant SAP posted on Tuesday a 15% jump in second quarter net profit to 491 million euros ($638 million).
Sales of software and related services gained 16% to 2.26 billion euros, a statement added.
“We are pleased to report another quarter of growth in software and software-related service revenue,” it quoted finance director Werner Brandt as saying.
“The top line results were driven by continued growth in software revenue, strong support revenue, mainly from the majority of our customers who endorsed Enterprise Support, and double-digit growth in subscription revenue.”
SAP said it has also completed a cash tender for outstanding shares in its Sybase unit, which focuses on database, information management and mobile activities.
For the first six months of 2010, SAP posted a net profit of 878 million euros, up from 622 million in the first half of 2009.
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First Published: Tue, Jul 27 2010. 11 44 AM IST
More Topics: Germany | IT | SAP | Profit | Company Results |