SAP profit up, but falls short of estimates

SAP has announced third-quarter profit of €501m, up 12% on the same period a year ago, but short of analysts' estimates of around €553m.

SAP has announced third quarter profit of €501m, up 12% on the same period a year ago, but short of analysts' estimates of around €553m.

The world's biggest maker of business-management software ascribed the increase in net income to a revival of corporate spending after the economic downturn.

"As customers continue to re-engage, seeking opportunities to grow their businesses and differentiate themselves from their competitors, we are able to help them," co-chief executive officer Bill McDermott said in a statement.

Total revenues were up 20% compared with a year ago to €3bn, while software and related services revenues were also up 20% to €2.32bn.

The third-quarter figures include the contribution of Sybase, which SAP acquired earlier this year to fulfil its strategy of enabling all its applications on mobile devices.

"We were already delivering our solutions on premise and on demand. With the acquisition of Sybase, we now have the most complete and heterogeneous mobile platform in the industry and with it the added ability to deliver our solutions on device as well," said McDermott.

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