SAP AG Reports 22% Growth in Software Revenues

SAP AG (NYSE: SAP) today announced its preliminary financial results for the first quarter ended March 31, 2006

Highlights
- Software revenues up 22% (constant currencies up 14%)
- Total revenues up 18% (constant currencies up 13%)
- Software revenues in Americas up 47% (30% at constant currencies)
- Operating margin down 1.6% to 20%

SAP AG stock(DAX) ended down 1.5%.

SAP said first-quarter profit rose at the slowest pace in a year on higher costs for marketing and hiring to spur growth in the Americas. (Bloomberg)