SAP AG Earnings: Here’s Why Investors are Selling Shares Now
SAP AG (NYSE:SAP) delivered a profit and its revenue increased 12.8% from 3.6 billion euro in the previous quarter. Shares are down 12.12%.
SAP AG Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4% to 0.73 euro in the quarter.
Revenue: Increased 4% on reported basis to 4.06 billion euro from the year-earlier quarter.
Quoting Management: “SAP had a solid overall performance in the second quarter. We remained focused on operating discipline, resulting in double-digit growth in non-IFRS operating profit at constant currencies. We improved the profitability of our core business and see good traction in the cloud on our way towards building a profitable cloud business,” said Werner Brandt, CFO of SAP. “We reaffirm our full year 2013 Non-IFRS operating profit outlook and remain committed to double-digit topline growth despite a difficult macroeconomic environment, in particular in Asia Pacific Japan and the rapid transition to the cloud.”
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)