SAP's Q3 Profit Rises 10% on higher licence sales
SAP, the world’s largest maker of business-management software, said third-quarter profit increased 10%, less than half the pace of Oracle, as revenue in the Americas trailed analysts’ estimates.
BERLIN: SAP, the world’s largest maker of business-management software, said third-quarter profit increased 10%, less than half the pace of Oracle, as revenue in the Americas trailed analysts’ estimates.
Net income rose to e408 million ($581 million) from an adjusted e370 million a year earlier, Walldorf, Germany-based SAP said in a statement. Licence sales, a gauge of future maintenance revenue, climbed 11% to e715 million, trailing analysts’ estimates.
SAP shares fell 90 cents, or 2.3 %, to e38.70. Before Thursday, they had lost 4.9% since the Business Objects deal on October 7, and 1.6% this year. Chief executive officer Henning Kagermann unveiled the $6.8 billion takeover of France’s Business Objects last week, the biggest purchase in SAP’s 35-year history, to accelerate growth and take market share from Oracle.
SAP, which won Wal-Mart Stores as a customer in the quarter, said on Thursday its software and service sales growth this year will be at the upper end of a previous forecast range. SAP said its global market share for business software applications reached 27% in the four quarters through September, 3.5 percentage points higher than a year earlier.
Net income rose to e408 million ($581 million) from an adjusted e370 million a year earlier, Walldorf, Germany-based SAP said in a statement. Licence sales, a gauge of future maintenance revenue, climbed 11% to e715 million, trailing analysts’ estimates.
SAP shares fell 90 cents, or 2.3 %, to e38.70. Before Thursday, they had lost 4.9% since the Business Objects deal on October 7, and 1.6% this year. Chief executive officer Henning Kagermann unveiled the $6.8 billion takeover of France’s Business Objects last week, the biggest purchase in SAP’s 35-year history, to accelerate growth and take market share from Oracle.
SAP, which won Wal-Mart Stores as a customer in the quarter, said on Thursday its software and service sales growth this year will be at the upper end of a previous forecast range. SAP said its global market share for business software applications reached 27% in the four quarters through September, 3.5 percentage points higher than a year earlier.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
