WALLDORF, Germany (TheStreet) -- SAP (SAP), the German maker of business software, said Friday that third-quarter underlying profit rose 23% from a year earlier and it's sticking with previous guidance for full-year 2011.
Operating profit on a non-IFRS basis was €1.13 billion ($1.56 billion) vs. €915 million a year earlier. Total revenue jumped 12% to €3.41 billion, while software and software-related service revenue rose 14% to €2.69 billion.
SAP said it expects full-year non-IFRS software and software-related service revenue to increase between 10% and 14% at constant currencies from last year's €9.87 billion, but expects to reach the high end of the range.
Non-IFRS operating profit for 2011 should come in a €4.45 billion to €4.65 billion -- SAP again said it expects to reach the high end of the range -- from €4.01 billion in 2010."SAP's pipeline remains very strong and companies continue to invest in IT," SAP said in a statement Friday. "Due to the ongoing uncertain macroeconomic environment, the company's outlook for the full year 2011 remains unchanged." -- Written by Joseph Woelfel
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