SAP Reports 3rd Quarter Profit Rise
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SAP AG, the German business management software maker, reported a 15-percent jump in third-quarter net profit Thursday to euro291 million (US$366 million), citing increased sales across the globe.
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General Electric Co. (GE.N: Quote, Profile, Research) on Friday said third-quarter earnings rose as profit gains across many of its financial and industrial businesses outweighed hurricane-related costs.
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Oracle Corp  said on Wednesday that quarterly profit rose 35 percent as new software sales soared 38 percent, beating Wall Street expectations at a time when investors are nervous that IT spending is slowing.
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SAP reported a 10 percent rise in revenue for the fourth quarter, but earnings fell 6 percent compared to a year earlier, dragged down in part by the cost of&#160;launching Business ByDesign, a new offering for the mid-market, the company said Wednesday.Revenue for the fourth quarter totalled &#8364;3.24 billion ($4.77 billion as of Dec. 31, the last day of the period reported), up 10 percent from &#8364;2.95 billion a year earlier, but net income fell 6 percent to &#8364;756 million.Software and related services revenue grew at 13 percent year on year, while consulting activities, representing around a fifth of SAP&#39;s revenue, remained stagnant.For the full year, revenue rose to &#8364;10.25 billion, up 9 percent from &#8364;9.39 billion, while net income rose to &#8364;1.92 billion, up 3 percent from &#8364;1.87 billion.The results do not include any revenue gains from&#160;SAP&#39;s $6.8 billion acquisition of&#160;business intelligence software vendor Business Objects, which the companies only completed on Jan. 16, 2008, although they do include &#8364;61 million in acquisition-related costs.SAP&#39;s operating margin for the year fell from 27.4 percent in 2006 to 26.7 percent in 2007, but if the effects of exchange rate fluctuations and the company&#39;s investment in Business ByDesign were excluded, the operating margin would have risen to 28.2 percent, Chief Financial Officer Werner Brandt said in a conference call.Developing Business ByDesign cost the company &#8364;125 million in 2007, &#8364;40 million of it in the fourth quarter, and the company expects to spend at least a further &#8364;175 million in 2008. An additional &#8364;50 million of expenditure will fall in late 2008 or early 2009.Sales and related services for subscription-based products like the new ByDesign contributed just &#8364;53 million in the fourth quarter, up 47 percent year on year.Looking ahead, CEO Henning Kagermann expects mid-market products like ByDesign to boost growth in 2008, he said during the conference call.Another growth driver will be SAP&#39;s acquisition of Business Objects, which will help the company increase its penetration of the business user sector, Kagermann said.SAP expects full-year revenue from software and software-related services to grow at between 24 percent and 27 percent. Excluding the contribution of Business Objects, SAP&#39;s existing activities will contribute between 12 and 14 percentage points, the company said.
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Third-quarter profit rose 11 percent to $640 million, helped by growth in fees from asset management and providing back-office services to institutional clients.
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Quarterly profit soared thanks to new products, increased marketing and improvement in international business, the company said.
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Norwegian telecommunications operator Telenor on posted a rise in profits in the third quarter as its international mobile telephony operations once again boosted earnings.
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VMware, reporting its first financial results since its I.P.O., said third-quarter profit more than tripled on demand for software that makes computers more efficient.
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3M Co. , the maker of Scotch tape and Post-It notes, on Tuesday posted a higher quarterly profit as it saw strength across its portfolio of businesses.
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A quarterly profit of $3.2 billion was driven by increased trading volume and merger activity.
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NEW YORK (CBS.MW) - Defense giant Lockheed Martin Corp. on Tuesday reported a sharp increase in third-quarter profit as sales rose in aerospace and most other key segments.
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Xerox Corp. on Thursday said third-quarter profit rose as it cut costs and sales of its copiers and printers improved.
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General Electric Co. GE.N on Friday  said third-quarter earnings rose as profit gains across many of  its financial and industrial businesses outweighed  hurricane-related costs.
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Third-quarter profit rose at Alcan Inc. (AL.TO: Quote, Profile, Research) on higher aluminum prices and shipments that helped it beat soaring energy costs, the company
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Lockheed's third-quarter earnings rose 41 percent behind higher sales of military transport planes and an increase in the company's IT business.
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Anheuser-Busch Cos. said Wednesday that third-quarter profit rose 3 percent, helped by higher international sales and its acquisition of Harbin Brewer Group.
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BERLIN -- SAP AG, the German business management software maker, reported a 15 percent jump in third-quarter net profit Thursday, citing increased sales across the globe.