SAP Profit Rises 15%, Missing Analysts’ Estimates
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SAP AG, the world’s biggest maker of business-management software, said second-quarter profit rose 15 percent as companies boosted spending on technology. The increase fell short of analysts’ estimates.
Net income climbed to 491 million euros ($638.2 million), or 41 cents a share, from 426 million euros, or 36 cents, a year-earlier -- less than analysts’ estimate of 525 million euros. Profit at the Walldorf, Germany-based company was hurt by a currency loss and severance paid to two former executives.