The world's largest maker of business software applications, SAP, reports a 10% increase in third-quarter profit due to an increase in license sales.
License sales is considered a major indicator of future maintenance and consulting revenue. It rose 11 percent to $1.02 billion.
The German company, whose programs help companies manage back-office work like payroll, inventory management and accounting, earned 408 million euros ($579 million) in the July-September period, up from 370 million euros a year earlier.
Revenue increased 9 percent, to 2.42 billion euros ($3.44 billion) from 2.21 billion euros last year. SAP’s revenue growth would have been 13 percent if not for the strengthening euro.
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Paul Mah is a writer and blogger who lives in Singapore, where he has worked for a number of years in various capacities within the IT industry. Paul enjoys tinkering with tech gadgets, smartphones, and networking devices.