Business software maker SAP AG (SAP) Friday reported a 17 percent increase in first-quarter profit, amid a 7 percent increase in revenues.
Profit attributable to owners of parent increased 17 percent to 520 million euros from last year's 444 million euros. Earnings per share advanced to 0.44 euros from 0.37 euros. Results are on the basis of IFRS.
Revenues for the quarter climbed 7 percent to 3.601 billion euros from 3.350 billion euros in the prior year.
SAP reiterated the outlook for full year 2013, which was provided on January 23.
The company expects full-year 2013 non-IFRS operating profit to be in a range of 5.85 billion - 5.95 billion euros at constant currencies compared to 5.21 billion euros in 2012.
The company expects full year 2013 non-IFRS software and cloud subscription revenue to increase in a range of 14- 20 percent at constant currencies compared to 5.00 billion euros in 2012.
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