SAP turned in a 26-percent increase in revenue for the first quarter ended March 31, but Wall Street was disappointed as after-tax profit rose by only 4 percent. The giant German software company had after-profit income of about $598 million and revenue of about $4.48 billion. The most important driver of revenue growth was software revenue, which was up 24 percent on an IFRS basis, followed by support revenue, which was up 20 percent. Because of travel, I missed the earnings webcast and it has not yet been made available on the SAP website.