SAP AG, the biggest maker of business-management software, reported second-quarter software license revenue that topped analysts’ estimates, sending the shares as much as 9 percent higher intraday.

Sales of new software licenses, an indicator of future revenue, increased 19 percent to 1.06 billion euros ($1.3 billion) excluding currency swings, Walldorf, Germany-based SAP said today. Analysts had predicted 977 million euros in sales. The company had projected 15 percent to 20 percent growth.

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