SAP reports rise in fourth-quarter operating profit

Reuters News
Posted: Jan 12, 2015 10:33 AM

FRANKFURT (Reuters) - German software maker SAP on Monday reported a 1 percent rise in fourth-quarter operating profit, amid an accelerating shift by business customers to Internet-based cloud software.

Europe's largest software firm reported operating profit, excluding special items, of 2.13 billion euros ($2.52 billion), which was broadly in line with average expectations of 2.15 billion euros, according to a Reuters poll of analysts.

SAP shares extended gains and were up 4.4 percent by 10:21 a.m. EST, following the announcement.

(Reporting by Harro ten Wolde; Editing by Georgina Prodhan)