SAP Stock Falls AS Q3 Results Fail To Match Expectations

SAP has posted an impressive financial report card for the third quarter ending 30 September, but failed to match analysts expectations with its stock price declining by 6 per cent.

The company, which confessed to stealing Oracle's intellectual property, reported a software revenue of 656 million Euros ($902 million), an increase of 15 per cent.

The total revenue from software and software related services rose by 13 per cent to finish up at 2.35 billion Euros ($3.23 billion).

The profit for the quarter was up by 12 per cent to 501 million Euros ($689 million). However, the profit was almost 9 per cent less of what was predicted by the analysts.

Bill McDermott, co-chief executive of SAP, said in a statement: “We were already delivering our solutions on-premise and on-demand. With the acquisition of Sybase, we now have the most complete and heterogeneous mobile platform in the industry and with it the added ability to deliver our solutions on-device as well.”