SAP reports sales records in 2012

January 15th, 2013 in Technology / Business

German software giant SAP said on Tuesday it achieved record sales last year, beating its full-year forecasts, even though acquisition costs hit earnings.

"2012 was an outstanding year where we set many new records. We continued our double-digit growth momentum and exceeded our revenue guidance," boasted co- Bill McDermott and Jim Hagemann Snabe.

said in a statement it booked a 14-percent increase in overall revenues to 16.22 billion euros ($21.6 billion) in 2012.

Software and software-related sales were up 16 percent at 13.16 billion euros, exceeding expectations for an increase of 10.5-12.5 percent.

At the same time, fell by 17 percent to 4.06 billion euros, impacted by acquisition-related charges, the group explained.

SAP completed its acquisition of California-based cloud computing company Ariba for $4.3 billion at the beginning of October.

Growth was set to continue this year, too, SAP said.

"We are perfectly positioned to continue our growth momentum in 2013," said co-CEOs McDermott and Hagemann Snabe.

(c) 2013 AFP

"SAP reports sales records in 2012." January 15th, 2013. http://phys.org/news/2013-01-sap-sales.html