SAP has announced what it called a “record fourth quarter” with the last three months seeing a significant hike in software revenues.
The company made €1.5 billion ($2.02 billion) in this area alone – a rise of 34 percent when compared to 2009.
“We are pleased to announce the best software sales quarter in the history of SAP,” said Bill McDermott, co-chief executive (CEO) of SAP. “We achieved outstanding growth in all regions and customer segments.”
The CEO might have a positive outlook now but the company has yet to take into account the massive $US1.3 billion fine laid at its doorstep following the TomorrowNow court case with Oracle. This will undoubtedly affect SAP’s yearly results for 2010 and steal away a chunk of the profits it made.
At least the company is celebrating for now, with combined software and service revenue rising 27 percent to €3.26 billion ($4.40 billion) and total revenue hitting €4.08 billion – an increase of 28 percent since last year.
“This result is clear proof that focusing on innovation and customer value is the right strategy,” added Jim Hagemann Snabe, SAP’s other co-CEO.
Further details on the results and the conclusion of the yearly figures are due to be released on 26 January.
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