German business software maker SAP beat expectation with strong sales growth in its third quarter, echoing business developments of its competitors, and reiterated its full-year targets.
"All of the regions reported growth in the third quarter, with particular strength in the US. and the emerging markets of Asia, Europe and Latin America," chief financial officer Werner Brandt said in a statement.
IFRS operating profit increased 16 per cent to €716 million and IFRS software and software-related service revenues (SSRS) rose 20 per cent to €2.32 billion.
SAP, which recently switched to IFRS reporting standards, said non-IFRS operating income was €883 million compared with analyst estimates of €873 million.
The German company stuck to its 2010 growth forecast for non-IFRS key software and software-related service revenue in a range of between 9 per cent and 11 per cent.
That includes contributions from U.S. database company Sybase, which SAP acquired in May, of 6-8 percentage points.
It also reiterated its full-year target for a non-IFRS operating margin of between 30 per cent and 31 per cent.
Reuters