German software maker SAP raised its full-year outlook today after third-quarter licence sales grew by a forecast-beating 20 per cent.
SAP, the world's biggest maker of business software, said it would now target 12 to 14 per cent growth in licence sales this year, based on an adjusted dollar/euro rate of $1.25.
It had previously forecast a 10 to 12 per cent rise in licence sales - an important indicator of future revenues - based on a dollar/euro rate of $1.30.
SAP's upbeat outlook sent its shares 2.7 per cent higher to €146.5 via Instinet ahead of the German market open at 7am.
The company estimated its global market share increased to 60 per cent at the end of September from 58 per cent at end-June.
It measures its share of the market for business software, which helps companies manage processes from supply-chain management to human resources, against the comparable business units of Microsoft, Oracle and Siebel Systems.
Chief executive Henning Kagermann said the result was a vindication of SAP's strategy of organic growth - in contrast to Oracle, which has been on an acquisition spree as it strives to overtake SAP's lead in business applications software.