UPDATE: SAP Reports 35% Growth in Software Revenue at Constant Currencies and 20% Growth in Non-IFRS Software Revenue

SAP AG SAP today announced its financial results for the second quarter ended June 30, 2011. -- 6th Consecutive Quarter of Double-Digit Growth in Non-IFRS Software and Software Related Service Revenue -- Second Quarter Non-IFRS Operating Profit Increased 26% at Constant Currencies Resulting in a 1.5 Percentage Point Increase in Non-IFRS Operating Margin at Constant Currencies -- Second Quarter Non-IFRS Earnings Per Share Increased 26% "We are pleased to report another strong quarter," said Werner Brandt, CFO of SAP AG. "The strong customer demand for our industry leading innovations positions us well to achieve our goal of at least EUR 20 billion in total annual revenue and a 35% operating margin by the middle of the decade, as well as for the long term." "The team delivered another outstanding quarter as customers in all regions and across every industry embrace the power of SAP's strategy," said Bill McDermott, co-CEO of SAP AG. "Our innovations such as SAP HANA along with our mobility and business analytics solutions are fueling our pipeline as customers want to grow their business and solve their most pressing industry-specific challenges. Our consistent results and ever-expanding ecosystem demonstrate that SAP is the better choice for customers of all sizes." "We are witnessing a structural change in the IT market -- customers are shifting more of their investments toward software as it continues to become a larger and more important component of the overall technology stack. As a result, we are seeing strong demand from customers," said Jim Hagemann Snabe, Co-CEO of SAP. "We focused our strategy on innovation at the right time and are now reshaping the industry with our mobility, in-memory and cloud solutions. Innovation is driving growth again at SAP."