SAP sees 29% software revenue growth for Q2 in Latin America

Wednesday, July 27, 2011

SAP's (NYSE: SAP) software revenue grew 29% year-on-year in Latin America during the second quarter of 2011, the company said in a press release.

The company highlighted the 37% regional increase in software for SMEs and 25% for the corporate segment.

During the quarter, SAP said, Puerto Rico had the best performance in Latin America, with a 303% spurt, followed by Argentina (138%) and Mexico (76%).

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Regarding vertical markets, health stood out with a 177% jump in the quarter, followed by financial services (148%), engineering and construction (130%), retail (86%), chemistry (74%) and mills (34%).

According to SAP's financial results for the quarter, software revenues in the Americas increased 18% year-on-year to 318mn euros (US$457mn), while software revenues globally grew 26% to 802mn euros.

The Americas contributed with 1.19bn revenues in the quarter, a 10% increase from the year-ago period. Excluding the US, regional revenues reached 304mn euros.

Globally, SAP reported total revenue of 3.30bn euros for 2Q11, up 14% from 2.89bn euros in 2Q10. The company also saw its net profit grow 20% year-over-year to 588mn euros.

For the first half of the year, revenues increased 17% year-over-year to 6.32bn euros. Net profits were up 13% to 991mn euros in the period.

Use this link to view the full results.