Paul Grant, Accountancy Age, Wednesday 27 October 2010 at 10:02:00

Third quarter operating profit of ?716m for Sap misses investor expectations

Financial software provider SAP disappointed investors with its third-quarterresults, despite reiterating that it will meet full-year targets.

Operating profit rose 16% to ?716m (625m) on sales of ?2.32bn, but themarket had forecast ?803m, based largely on strong results from US competitors.

The company said its growth forecast for key revenue would be between 9% and11%, including 6% - 8% from the recently acquired database vendor Sybase.Operating margins would also remain at 30%-31%, the company said.

"All of the regions reported growth in the third quarter, with particularstrength in the U.S. and the emerging markets of Asia, Europe and Latin America," said chief financial officer Werner Brandt.