SAP profits rise 11% on US sales

SAP boss Henning Kagermann wants the firm to keep growing

German software maker SAP, which is taking on US rival Oracle, has reported an 11% rise in first quarter earnings.

Net profit was 282m euros (£195m; $348m) in the three months to 31 March, up from 254m euros a year earlier.

SAP said it has eaten into Oracle's market share and has won an increasing number of US orders, helping push license sales 22% higher to 528m.

Despite the upbeat announcement, earnings missed market forecasts and SAP shares fell 1.8% to 3.35 euros.