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Thứ Hai, 21 tháng 10, 2013

SAP's profit jumps 23%, but sales growth slows - MarketWatch

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By Friedrich Geiger

FRANKFURT--SAP AG's /quotes/zigman/126928/quotes/nls/sap SAP +1.18% profit jumped in the third quarter, helped by declining costs, but revenue growth slowed down because some customers favored Internet-based applications over software purchases and currency markets provided headwind, the German company said Monday.

Net profit of SAP, whose software helps companies with their accounting and customer relationship management, rose 23% to 762 million euros ($1.04 billion) in the July-to-September period, helped by improving efficiency. Revenue increased 2% on the year to EUR4.05 billion, below the 14% growth of full 2012, as major currencies such as the dollar and the yen devalued versus the euro.

Sales of software for installation on customers' computers declined 5% to EUR975 million, as some clients preferred cloud applications accessed through an Internet browser. SAP's revenue with cloud subscriptions and support tripled to EUR191 million. Revenue from the HANA high-speed analytics application, which SAP sees as an important growth driver, increased 79% to EUR149 million in the third quarter.

"SAP had a very strong performance in the third quarter, considering the mixed macroeconomic environment and the strong currency headwinds," said Chief Financial Officer Werner Brandt.

SAP confirmed its guidance and continues to see full-year operating profit between EUR5.85 billion and EUR5.95 billion and at least 10% growth in revenue with software and related services. The guidance is adjusted for currency swings and doesn't comply with international financial reporting standards.

Write to Friedrich Geiger at

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Volume: 2.57M

Oct. 18, 2013 4:07p

Market Cap

$90.03 billion

Rev. per Employee



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