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SAP's(SAP Quote) second-quarter earnings rose 14% from a year ago, driven by major sales and market-share gains in the U.S. and a decline in overhead costs.
The company previewed the results July 9, relieving investors who worried the slowdown reported by Veritas(VRTS Quote), PeopleSoft(PSFT Quote) and Siebel(SEBL Quote) -- and reiterated Wednesday by Salesforce.com(CRM Quote) -- would impact SAP.
The Germany-based business software vendor earned $306.3 million, or 98 cents a share, in the three months to June 30, compared with earnings of $268 million, or 87 cents a share, last year. Revenue rose 9% to $2.19 billion. Excluding various expenses, SAP put up pro forma earnings of $1.07 a share in the second quarter....
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