SAP says 1Q net profit jumps 97 pct to €387M
German software company SAP AG has nearly doubled its first-quarter net profit as demand for its products, along with sales, rose among customers worldwide.
SAP, based in Walldorf, reported Wednesdasy net income of €387 million ($514.3 million) in the January-March period compared with €196 million a year earlier. That's an increase of 97 percent.
Germany's biggest software company says that increase in profit was driven by a boost in revenue, which rose 5 percent to €2.5 billion in the quarter compared with nearly $2.4 billion a year earlier.
Of that figure, software revenue was up 11 percent to €464 million while support revenue rose 11 percent to nearly €1.4 billion.