Market Commentary and Intraday News
SAP sales rise, company boosts outlook
209 days ago
(AP:FRANKFURT, Germany) Business software maker SAP AG saw its third quarter profit fall from a year ago because of a large one-time gain booked then.
Net profit came in at (EURO)618 million, down 51 percent from (EURO)1.25 billion a year ago. The year-ago figure was boosted by an unusual (EURO)723 million gain that came about when a judge reduced damages against the company in a lawsuit brought by competitor Oracle.
The Walldorf, Germany-based company said Wednesday its business was developing strongly, with increased sales in North America and China outweighing flat revenue in crisis-hit Europe. It raised its guidance for 2012 and said its new business in cloud computing was growing fast.
Revenue grew 16 percent to (EURO)3.95 billion, while operating earnings _ which exclude the court decision _ rose 10 percent.
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