SAP announces increase in enterprise spending, Sybase to drive revenues

SAP announced an increase in revenues of 16 percent year-over-year in the second quarter thanks to increased enterprise spending on business software. Software and software-related revenues came in at $2.9 billion, while the company reached a net profit of $638 million. (See more earnings releases from AT&T, Apple and Google here.)

"Customers continue to invest for growth across large, mid-sized and small enterprises and within many industries," Bill McDermott, co-CEO of SAP, said in a statement. "We had outstanding growth in strategic markets like the U.S. and we saw continued double-digit growth in key emerging markets in Latin America and Asia. This solid performance is due to renewed customer confidence, an ever-expanding ecosystem, as well as focused execution on our go-to-market strategy."

SAP said its acquisition of mobile software company Sybase should boost its software and software-related service revenue for 2010 between 9 percent and 11 percent. Without Sybase's contribution, SAP's business would have grown between 6 percent and 8 percent. SAP said it has completed its offer for all outstanding shares of common stock of Sybase.

In May, SAP announced its intention to acquire Sybase for $5.8 billion as a way to expand into enterprise mobility and stay competitive with Oracle.

For more:
- check out this eWeek article

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