News Summary: SAP sales rise, outlook lifted
By: The Associated Press
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.
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.