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SAP announces its best second quarter ever

NewsSarah Feurey, Head of Research13.07.2012 Comments (0)Bookmark

Despite a general feeling of gloom in the technology industry, SAP has defied analyst expectations and delivered a strong rise in profits.

SAP said its software revenues rose 19% to record 1.06bn euros for the second-quarter, with software and software related sales rising 21% to 3.12bn euros. Operating profit was also up 7% to 0.9bn euros. The results were reported according to IFRS (international financial reporting standards) and SAP will release its full second-quarter results on 24 July.

SAP shares were down 9.4% in the last three months but traded up 4.7% at 48.35 euros by 1236 GMT.

"Our record performance speaks for itself. We delivered double-digit growth in all regions driven by strong momentum from the core as well as SAP HANA, mobile and the cloud," co-CEOs Bill McDermott and Jim Hagemann Snabe said in a statement.

Analysts have pointed to a robust demand for cloud computing, favourable exchange rates and the purchase of cloud-software developer SuccessFactors as reasons for the somewhat unexpected results.

SAP, profits, cloud computing, software

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