Wednesday, 29 July 2009

SAP ‘swings and roundabouts’ guidance change

(By Anthony Miller – Wednesday 29th July 2009 9:45am). Margins higher, revenues lower. No surprises there, then, in SAP’s change to its FY guidance in today’s 2Q09 report. This was almost an inevitable consequence of the even steeper dive in software revenues, down 40% to €543m in constant currencies, compared to -34% in 1Q09. Group operating margins expanded by 3.5 pts to 27.7%. There was very little comment on SAP’s SME SaaS offering, Business ByDesign, but we hope to hear more on this afternoon’s concall, after which we will bring you more.

No comments:

Post a Comment