SAP’s Profit Drops 36 Percent on Litigation Charges
German business software giant SAP AG reported Wednesday a 36 percent drop in fourth-quarter net profit, hurt by litigation provisions following a court battle with rival Oracle Corp.
SAP also said it plans to increase its 2010 dividend by 20 percent.
For the three months ended Dec. 31, net profit fell to 437 million euros ($598 million) from €681 million in the same period a year ago. Earnings per share declined to €37 from €57.
SAP released its full results Wednesday after the firm had reported on Jan. 13 a surge in quarterly revenue, triggering a 3.5 percent rally in its share price