(Bloomberg) -- SAP SE’s sales topped analysts’ estimates for the fourth straight quarter, as business software spending grew, though the costs of transitioning to a web-delivered model weighed on profitability.
First-quarter revenue rose 12 percent to 5.29 billion euros ($5.7 billion), SAP reported Tuesday, compared with the 5.16 billion-euro estimate of analysts surveyed by Bloomberg. Operating profit, excluding share-based compensation, amortization and other charges, was 1.2 billion euros, compared with the average estimate of 1.23 billion euros.
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