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SAP sales rise, company boosts outlook

Wed, 10/24/2012 - 1:55am
The Associated Press

Business software maker SAP AG saw its third quarter profit fall from a year ago because of a large one-time gain booked then.

Net profit came in at €618 million, down 51 percent from €1.25 billion a year ago. The year-ago figure was boosted by an unusual €723 million gain that came about when a judge reduced damages against the company in a lawsuit brought by competitor Oracle.

The Walldorf, Germany-based company said Wednesday its business was developing strongly, with increased sales in North America and China outweighing flat revenue in crisis-hit Europe. It raised its guidance for 2012 and said its new business in cloud computing was growing fast.

Revenue grew 16 percent to €3.95 billion, while operating earnings — which exclude the court decision — rose 10 percent.

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