SAP shows solid growth in Q2

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SAP is celebrating the fact that its revenues have grown by 12 per cent since year-on-year, reaching €2.89 billion (£2.42 billion).

In its results filing today, the company said Software grew a sturdy 17 per cent to reach €637 million in revenues.

When combined with the software related services, the proceeds hit €2.26 billion, making up the majority of the company’s earnings.

Bill McDermott, co-chief executive (CEO), said: “Customers continue to invest for growth across large, mid-sized and small enterprises and within many industries.”

He added: “This solid performance is due to renewed customer confidence, an ever-expanding ecosystem, as well as focused execution on our go-to-market strategy.”

Along with its results, SAP also confirmed its acquisition of US database company Sybase had completed today.

The $5.8 billion (£3.7 billion) deal has led SAP to raise its expectations for revenues in the entirety of 2010 by nine to 11 per cent.

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