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.


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