SAP Profits Nearly Double

SAP, the German software company, said first-quarter earnings rose 97% to 387 million euros ($509.2 million) as sales rose 5%.
Author:
Publish date:

BERLIN (

TheStreet

) --

SAP

(SAP) - Get Report

, the German software company, said first-quarter earnings rose 97% to 387 million euros ($509.2 million) as sales rose 5%.

SAP said Wednesday that first-quarter sales were 2.5 billion euros vs. 2.4 billion euros last year.

Software revenue rose 11% to 464 million euros and software-related services revenue gained 12% to 1.95 billion euros.

SAP Co-CEO Bill McDermott, in a statement, said the company's first-quarter growth was driven by "all-around solid execution in both our large, well established markets and our fast growing emerging markets."

-- Reported by Joseph Woelfel in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.