SAP: profit-taking after unsurprising results
(CercleFinance.com) - SAP shares were the biggest faller on the DAX index on Thursday morning, hit by profit-taking after the business software specialist published unsurprising results.
At around 10.30am, the stock was down 3.2%, underperforming a slightly positive DAX (up around 0.2%). However, the stock has still risen by nearly 19% over the last six months.
Excluding extraordinary items, the German group's operating profit rose by 2% in Q4, at constant exchange rates, to 2.58 billion euros, above the consensus of 2.56 billion euros.
For 2023, SAP said that it is targeting non-IFRS operating profit of 8.8 to 9.1 billion euros at constant exchange rates, up 10% to 13% relative to FY 2022.
Copyright (c) 2023 CercleFinance.com. All rights reserved.