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SAP earnings up 12 pct, helped by sales to financial, retail companies; cloud, data contribute
FRANKFURT, Germany (AP) Bigger software deals and increased sales to financial and retail companies helped SAP AG post a 12 percent increase in earnings in the second quarter of the year.
The maker of back-office business software said net profits rose to 661 million ($800 million) from 588 million in the same period a year earlier.
Meanwhile, revenues jumped 18 percent to 3.898 billion.
SAP said Tuesday it did slightly fewer software deals, but the ones it concluded were worth more. The average value of software orders increased 32 percent. It said software sales revenue rose more than 60 percent from customer companies in financial services and retail.
Earnings were also boosted by growth in its businesses in cloud computing and its HANA software that lets companies quickly analyze huge amounts of data.