Business

Business software firm SAP sees rise in profit, sales

Posted July 20, 2016 7:00 am

The Associated Press

WALLDORF, Germany (AP) - Business software maker SAP SE reported Wednesday that its second-quarter net income rose to 816 million euros ($900 million) from 469 million euros a year earlier as it expanded sales in all regions.

The company based in Walldorf, Germany, said its revenues grew to 5.24 billion euros from 4.97 billion euros, beating market expectations. The average estimate of eight analysts surveyed by financial information company FactSet was for revenue of 5.23 billion euros.

The company stuck to its outlook for 2016, which includes a forecast for revenue from cloud and software services to rise by between 6 percent and 8 percent.

Luka Mucic, the chief financial officer, said: "We did what we said we would do - we delivered a strong Q2."

Shares in SAP were up 4 percent at 75.60 euros in Frankfurt.

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