SAP profit rises on SME sales boost
Sticks to outlook for year
Business management software maker SAP saw first quarter net profit nearly double to €387m on total revenues up 5 per cent to €2.5bn for the period ended 31 March 2010.
"We saw strong results from the rapidly expanding demand for SAP BusinessObjects solutions, as well as in our small and midsized enterprise business," said SAP boss Bill McDermott.
The company said it expected to see 2010 non-IFRS software and software-related service sales to climb four to eight per cent at constant currencies, following a five per cent dip last year.
SAP pulled in €557m pre-tax earnings in its Q1, up 47 per cent on the previous year-on-year quarter.
The software vendor inked contracts with a range of customers across the globe in its first quarter, including Boots, Daimler AG, Gazprom OAO and McCain Foods.
SAP said it was sticking with its previously announced outlook for the year. ®