SAP has posted an impressive financial report card for the third quarter ending 30 September, but failed to match analysts expectations with its stock price declining by 6 per cent.
The company, which confessed to stealing Oracle's intellectual property, reported a software revenue of 656 million Euros ($902 million), an increase of 15 per cent.
The total revenue from software and software related services rose by 13 per cent to finish up at 2.35 billion Euros ($3.23 billion).
The profit for the quarter was up by 12 per cent to 501 million Euros ($689 million). However, the profit was almost 9 per cent less of what was predicted by the analysts.
Bill McDermott, co-chief executive of SAP, said in a statement: “We were already delivering our solutions on-premise and on-demand. With the acquisition of Sybase, we now have the most complete and heterogeneous mobile platform in the industry and with it the added ability to deliver our solutions on-device as well.”