SAP AG (ADR)(NYSE:SAP) shares gapped up this morning after the software company posted solid growth in net earnings propelled by impressive growth in software sales. The company reported net income of 661 million euros or 0.55 euros, up 12% from a year ago profit of 588 million euros or 0.49 euros. On non-IFRS basis, profit surged 18% to 831 million euros and earnings per share grew 19 percent to 0.70 euros.
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Total revenues grew 18% to 3.90 billion euros and rose 12% in constant currency. The company posted 26% year over year jump in software revenue to 1.06 billion euros supported by double-digit growth in all regions. The company noted that the demand for SAP's new innovation categories continued to accelerate.
For the year 2012, the company continues to expect adjusted software and software-related service revenue to increase in a range of 10 percent – 12% at constant currencies and adjusted operating profit to be in a range of 5.05 billion euros to 5.25 billion euros at constant currencies.
Sarepta Therapeutics Inc(NASDAQ:SRPT) shares soared 131% after announcing its exon-skipping compound eteplirsen achieved a significant clinical benefit after a 36-week PhaseIIb study in the treatment of Duchenne muscular dystrophy patients.
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Baidu.com, Inc. (ADR)(NASDAQ:BIDU) surged 8.77% to $116.65 after the company late Monday posted higher than projected net earnings and revenue for the second quarter. Moreover, investors were impressed after the company upped its guidance for the third quarter.
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China’s search engine giant posted net income of RMB2.770 billion ($436.0 million) or $1.24 a share, while adjusted earnings jumped to $1.26 a share, topping analysts’ forecast by 14 cents. Revenue surged about 60% to RMB5.456 billion ($858.8 million), compared to analysts expectations of $850.78 million. For the current quarter, Baidu currently expects to generate total revenues in an amount ranging from RMB6.245 billion ($983.0 million) to RMB6.410 billion ($1.009 billion) for the third quarter of 2012, representing a 49.6% to 53.5% year-over-year increase.