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Wednesday, October 26, 2011

SAP considers share buyback as 9-month cash flow jumps, (NASDAQ: ORCL)

SAP, the world's biggest maker of business software, said on Wednesday it would consider buying back shares after reporting a 23 percent jump in third-quarter operating profit and sticking to its 2011 outlook."Given SAP's strong free cash flow generation over the first nine months of 2011, the company plans to further evaluate buying back shares in the future," the company said in a statement.SAP said free cash flow was 2.64 billion euros ($3.7 billion) in the first nine months of the year, up 42 percent from 1.85 billion euros last year or 27 percent of total revenue.SAP, which competes with Oracle Corp , said earlier this month third quarter sales at its key software and software-related services business rose 16 percent to 2.69 billion euros, while group sales came in at 3.41 billion.

Oracle Corporation, incorporated in 2005, is an enterprise software company. Shares of ORCL fell by 1.52% or $-0.5/share to $32.37. In the past year, the shares have traded as low as $24.72 and as high as $36.50. On average, 40841700 shares of ORCL exchange hands on a given day and today's volume is recorded at 30540900.