FRANKFURT, Oct 19 (Reuters) - Software AG, Germany’s No.2 business software firm, reported third-quarter profits and sales that slightly beat market expectations as its new industrial internet division achieved triple-digit growth.
Revenues at the firm specialising in middleware and business databases grew by 7 percent, at constant currency, to 208.8 million euros ($239.3 million), just ahead of mean expectations of 205 million euros in a Reuters poll of analysts.
Non-IFRS earnings before interest and amortisation were flat at 63.8 million euros and net income rose 4 percent to 44.7 million euros.
The Darmstadt-based company confirmed its full-year guidance.
The new Cloud & IoT division reported revenues of 9.1 million euros, up 144 percent. Annual recurring revenues for the unit, a key metric targeted by the company, rose 111 percent, it said. ($1 = 0.8724 euros) (Reporting by Douglas Busvine; Editing by Maria Sheahan)