Shares of SAP AG, the German business-software company that employs 2,500 at its US headquarters in Newtown Square, rose 2 percent to top $71 today after reporting higher-than-expected $618 million in third-quarter after-tax profits on sales of $4 billion, including record software sales of $1.3 billion.
But the company has slowed its hiring plans as it prepares to absorb cloud-computing specialist Ariba Inc. and boost its Hana database program, chief financial officer Werner Brandt told investors in a morning conference call. Brandt said the company added 350 mostly sales and marketing people in the third quarter and said it had no plans to scale up hiring into next year.
SAP hired 4,500 over the past year, plus adding 2,300 through corporate acquisitions. But Brandt said the company added only 350, mostly sales and marketing people, in the three months ended Sept. 30, and said it had no plans to scale up hiring into next year. SAP employs around 61,000 worldwide.