Business software provider SAP saw its profits rise by 12 percent in the third quarter of 2010, helped by solid sales in North and Latin America.

The Walldorf, Germany-based company, which specializes in business intelligence and analytic software for enterprises, today reported a quarterly profit of 501 million euros ($697 million), compared with 447 million euros a year ago. Financial analysts had expected SAP to hit 553 million euros.

Total revenue was 3.003 billion euros, compared with 2.508 billion euros the previous year--a jump of 20 percent.

Read more of "SAP sees profits rise in solid third quarter" at ZDNet UK.