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SAP net profit up 4 pct, less than expected

SAP net profit up 4 pct, less than expected

April 28th, 2011 in News

FRANKFURT, Germany (AP) - Business software maker SAP AG says net profit rose 4 percent to 403 million ($594 million) in the first quarter as it included results from mobile software maker Sybase for the first time.

The results fell short of market expectations, however, and SAP shares fell 6 percent to 42.85.

Revenue from software and related services rose 20 percent to 2.33 billion in the quarter.

The company said Thursday overall revenue grew 18 percent to 3.02 billion.