Software maker SAP sees profit rise 12 pct in Q3
German business software maker SAP AG said Wednesday its third-quarter net profit rose 12 percent, driven by growth in the U.S. and emerging markets.
SAP earned euro501 million ($697 million) in the August-September period, compared with euro447 million in the same period of the previous year.
The company, based in Walldorf, Germany, said total revenue increased 20 percent to euro3 billion from euro2.5 billion. Revenue from software and software-related services rose to euro2.31 billion from euro1.9 billion the previous year.
Chief Financial Officer Werner Brandt noted the positive contribution from the U.S. database software unit Sybase Inc., whose $5.8 billion acquisition SAP completed in July.
The company said that growth in the third quarter was driven by demand in the U.S. and emerging markets in Asia, Europe and Latin America.
SAP said it was holding to its previous outlook of a revenue increase of 9 to 11 percent in the full year 2010.
SAP makes programs to help companies do administrative work such as payroll, inventory management and accounting.
Shares were down 1.29 percent, trading at euro37 in Frankfurt.