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SAP net profit jumps 12% in Q3

SAP net profit jumps 12% in Q3
AP
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First Published: Wed, Oct 27 2010. 03 01 PM IST
Updated: Wed, Oct 27 2010. 03 01 PM IST
Berlin; German business software maker SAP AG said Wednesday its third-quarter net profit rose 12%, driven by growth in the US and emerging markets.
SAP earned ¥501 million ($697 million) in the August-September period, compared with ¥447 million in the same period of the previous year.
The company, based in Walldorf, Germany, said total revenue increased 20% to ¥ billion from ¥2.5 billion. Revenue from software and software-related services rose to ¥2.31 billion from ¥1.9 billion the previous year.
Chief financial officer Werner Brandt noted the positive contribution from the U.S. database software unit Sybase Inc., whose $5.8 billion acquisition SAP completed in July.
The company said that growth in the third quarter was driven by demand in the US and emerging markets in Asia, Europe and Latin America.
SAP said it was holding to its previous outlook of a revenue increase of 9-11% in the full year 2010.
SAP makes programs to help companies do administrative work such as payroll, inventory management and accounting.
Shares were down 1.29%, trading at ¥37 in Frankfurt.
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First Published: Wed, Oct 27 2010. 03 01 PM IST