SAP: shares fall after disappointing results
(CercleFinance.com) - Quarterly earnings from German business software SAP fell short of expectations on Thursday, sending its shares sharply lower in Frankfurt.
SAP's results, released this morning, showed group revenue rose 11 per cent to 6.6 billion euros, with operating profit down 21% due to the group's ongoing restructuring.
SAP also cited the recent short-term trade-related uncertainty in Asia, which impacted its software revenue performance in the region.
"Second-quarter licences, margins and free cash flow all disappoint", commented analysts at UBS.
Cloud gross margin is a rare bright spot, up 4 percentage points in the past quarter.
The SAP stock fell almost 7 percent after the report, making it the biggest decliner in the DAX 30 index, which was down 0.9 percent.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
SAP's results, released this morning, showed group revenue rose 11 per cent to 6.6 billion euros, with operating profit down 21% due to the group's ongoing restructuring.
SAP also cited the recent short-term trade-related uncertainty in Asia, which impacted its software revenue performance in the region.
"Second-quarter licences, margins and free cash flow all disappoint", commented analysts at UBS.
Cloud gross margin is a rare bright spot, up 4 percentage points in the past quarter.
The SAP stock fell almost 7 percent after the report, making it the biggest decliner in the DAX 30 index, which was down 0.9 percent.
Copyright (c) 2019 CercleFinance.com. All rights reserved.