SAP's profits up 62% in first quarter

SAP AG has reported that pre-tax profits rose 62% in the first quarter this year to US$ 77.58 million, while revenue was US$460 million during the quarter, a 40% increase on the same period last yea.

The results should be good news to investors who last week reacted nervously to studies critical of SAP's flagship product R/3, sending SAP's stocks on a roller coaster ride.

The lion's share of SAP's revenues in the first three months of this year were generated in Europe, followed by the US and the Asia/Pacific region.

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