News Summary: SAP sales rise, outlook lifted

The Associated Press
Wednesday, 24 Oct 2012 | 4:58 PM ET

THE NUMBERS: Business software maker SAP AG's third-quarter profit fell 51 percent because of a large year-ago gain stemming from a legal settlement. But revenue grew 16 percent, and the company lifted its sales outlook for the year.

THE CLOUD: SAP is benefiting from the increasing demand for "cloud computing," where software is hosted on remote servers and companies purchase only as much computing services as they need.

EUROPE A DRAG: The German company said sales are growing in North America and China, helping offset flat revenue in Europe, where many countries are in recession.

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