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by Jeff Moad, MA Editorial Staff
Posted on Tuesday, July 29, 2008 5:12:04 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The ERP provider manages double-digit revenue growth, but income lags; all as Oracle amends its lawsuit with claims that SAP’s top brass condoned TomorrowNow’s alleged malfeasance. |
| Keywords: | SAP Q2, SAP earnings, SAP Oracle lawsuit |
SAP AG today reported strong financial results for its recently concluded second quarter as customers began to overcome concerns over the slowing economy and last year’s acquisition of business intelligence software provider Business Objects continued to bolster SAP’s growth.
The announcement of SAP’s strong financial performance followed yesterday’s news that rival Oracle Corp., as promised, has expanded its 16-month-old corporate theft lawsuit against SAP, charging that the company’s top executives, including Co-CEO Henning Kagermann, knew of the allegedly illegal business practices of third-party software maintenance provider TomorrowNow even before deciding to acquire the company in 2005.
SAP reported software revenue of €898 million in the second quarter ended June 30, 2008, an increase of 25% compared with the second quarter of 2007. SAP reported a 21% rise in software and software-related service revenue to €2.06 billion. Total revenue rose by 18% to €2.86 billion.
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