SAP shares upbeat results with the market early


SAP shares upbeat results with the market early

Simon Quicke

It's results might not be out but SAP has felt confident enough to offer investors a preview of its performance in the third quarter which has featured increases in both software and services revenue.

The vendor isn't issuing its full results until next week on the 26 but wanted to share the positive news with the market declaring that software revenue has increased by 28% to €841m year-on-year and software services revenue rose by 16% to €2.6bn for the three months ended 30 September.

The strong performance in the core business of selling and servicing its business intelligence products helped produce a 14% increase in revenue to €3.4bn and a 145% hike in operating profit year-on-year to €1.7bn.

"The record quarter was driven by strong results across all regions," said Bill McDermott and Jim Hagemann Snabe, Co-CEOs of SAP, adding "Innovative software matters more than ever and we are at the forefront of this trend."

The vendor added that the fourth quarter was looking strong with its pipeline looking healthy as customers continued to invest in software but because of the "uncertain macroeconomic environment" it would stick with the guidance for the full year it issued back in the summer.

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