SAP announces its best second quarter ever
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.