After reviewing preliminary figures, business application vendor SAP said Tuesday it expects full-year software license revenue to rise 18 percent, exceeding the company's own growth target, as the company's U.S. business grew.
Full-year license revenue rose to Euro 2.8 billion (AU$4.4 billion), compared to Euro 2.4 billion in the same period the year before, SAP said in a statement, ahead of its scheduled Jan. 25 earnings report date.
The 18 percent increase in full-year revenue surpassed the company's previously published guidance range of between 12 percent and 14 percent growth, according to the statement.
SAP expects fourth-quarter software license revenue to increase 18 percent to Euro 1.2 billion.
Continued strong sales in the U.S. contributed to the group's performance. Fourth-quarter software license revenue in the U.S. is expected to rise 35 percent to Euro 315 million, the Walldorf, Germany, vendor said.
In the Americas, including the U.S., Canada and Latin America, SAP expects software license revenue in the fourth quarter to increase 33 percent to Euro 424 million.