SAP profits higher than expected
German business software giant SAP has reported better-than-expected profits, sending its share price higher.
The company said operating profit for the fourth quarter rose 10% to 1.78bn euros (£1.47bn, $2.3bn). Analysts had forecast a profit of about 1.65bn euros.
Operating profit for the whole of 2011 increased 18% to 4.71bn euros, beating the company's own guidance of 4.45-4.65bn euros.
Shares in SAP rose 3.6% in Frankfurt.
Software and software-related licence revenue, which includes new licences and maintenance, gained 15% for the full year. The company had targeted a 10-14% rise.
SAP will publish its full quarterly results, as well as its outlook for 2012, on 25 January.