WALLDORF, Germany (
, the German maker of business software, said first-quarter operating profit rose 26% to €779 million ($1.16 billion), falling short of analysts' estimates.
Analysts were expecting operating profit to increase by 39%, according to
Software and software-related service revenue jumped 20% to €2.34 billion. Total revenue rose 21%.
SAP, in a statement Thursday, said it expects non-IFRS software and software-related service to increase 10% to 14% at constant currencies in 2011. It expects full-year non-IFRS operating profit of €4.45 billion to €4.65 billion at constant currencies.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here:
>To submit a news tip, send an email to: