In the midst of a terrible market this morning, shares of software vendor SAP AG (SAP) are up $1.30, or 2, at $54.55 after the company this morning pre-announced Q4 profit ahead of analysts’ expectations.
Revenue in the three months ended in December rose 10%, year over year, to �4.5 billion, or $5.75 billion at current exchange rates, roughly in line with the consensus $5.8 billion. Software revenue was up 16%, year over year, at �1.74 billion.
Operating profit rose 10% as well, to �1.78 billion, beating the average �1.73 billion estimate.
Co-CEOs Bill McDermott and Jim Hagemann Snabe remarked the quarter concluded the best year in the company’s 40-year history.
SAP also said sales of its so-called in-memory database software, “Hana,” came In at �160 million, exceeding company expectations.
SAP will report full results on January 25th.
With the software sector having been quite anxious for its future since Oracle’s results a short while ago, it remains to be seen whether today’s results will put those concerns to rest.
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