News Column

SAP Stock Soars After Software Maker Reports Revenue Spurt

Oct. 24, 2012

The share price of SAP AG surged nearly 6 per cent Wednesday after Europe's biggest software company said its third-quarter revenues surged especially in the Americas and Asia.

Fees from its business software users, a large part of the German-based company's revenue, increased 17 per cent from a year earlier to 1.03 billion euros (1.34 billion dollars).

The stock traded at 55.65 euros in Frankfurt in the early afternoon, the top performer in the DAX index of 30 German shares.

Revenue shrank by 1 per cent year-on-year in Europe, the Middle East and Africa in the third quarter, but this was offset by revenue growth of 37 per cent in the Americas, and 18 per cent in the Asia-Pacific region buoyed by sales in China and Japan.

SAP also scored strong growth with new database technology, cloud computing and software for mobile devices.

For more stories covering the world of technology, please see HispanicBusiness' Tech Channel

Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters