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SAP Says Cost Controls Help Earnings, Revenue Rise

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SAP (SAP) - Get SAP SE Sponsored ADR Report said second-quarter income rose 78% to 206 million euros ($179.7 million) from 116 million euros in the year-ago period, and revenue rose 24% to 1.85 billion euros.

The company earned 0.65 euros per share for the quarter, up from 0.37 euros a year ago. Excluding charges related to the acquisition of

TopTier

, SAP earned 0.71 euros per share in the latest quarter.

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Additionally, SAP confirmed its expectations through the first nine months of 2001 and said it expects better than 20% revenue growth for the full year. Shares of the German business software maker rose 8% to $33.60 in

Instinet

action before the opening bell.

"Our strong operating performance this quarter was driven mostly by our ability to control ongoing costs," the company said in a press release. "Excluding the currency effects, all regions performed well, even in the Americas, where we believe our overall market share increased."