German business software supplier SAP has reported a 23% increase in first-quarter net income boosted by increased software spending, particularly in the US.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
Net income rose to €229m (£154m) from €186m a year earlier.
Total revenue in the first quarter increased 2% to €1.56bn from €1.52bn a year earlier.
Software revenue increased 5% to €370m from €352m. In the US, software revenue rose 45% to €103m.
SAP's flagship ERP software continued to account for the bulk of software revenue. The product generated revenue of €156m or 42% of the group's total software revenue.
The outlook for 2004 remains unchanged, SAP said. Software revenue is expected to increase by around 10% compared with 2003.
John Blau writes for IDG News Service