By Elizabeth Kelleher
SAP recorded the best software sales in its history in the fourth quarter of 2010, according to the company’s preliminary financial results.
SAP’s software revenues increased by approximately 34 per cent to 1.5 billion euros in Q4 2010, up from 1.12 billion euros the previous year.
Software and software-related service revenue increased by 27 per cent to 3.26 billion euros, while the company’s total revenue increased by 28 per cent to 4.04 billion euros.
“We are pleased to announce the best software sales quarter in the history of SAP,” said Bill McDermott, co-CEO of SAP. “We achieved outstanding growth in all regions and customer segments.”
SAP’s full year results show a 25 per cent increase in software revenues to 3.26 billion euros and a 19 per cent increase in software and software-related service revenue to 9.78 billion, up from 8.2 billion the previous year.
Overall, SAP’s revenue rose from 10.67 to 12.45 billion euros, which represents an increase of approximately 17 per cent.
Jim Hagemann Snabe, co-CEO of SAP, said the result was “clear proof that focusing on innovation and customer value is the right strategy”.
SAP will provide its outlook for 2011 later this month.