SAP Profit Misses Analyst Estimates as Growth Trails Oracle
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SAP AG, the largest maker of business-management software, reported first-quarter profit that missed analysts’ estimates and trailed growth at rival Oracle Corp., sending the stock down the most in 1 1/2 years.
Operating profit based on non-IFRS accounting rules rose 26 percent to 779 million euros ($1.2 billion), Walldorf, Germany-based SAP said today. The figure missed the 833 million-euro average estimate of 14 analysts compiled by Bloomberg. Software and related services revenue gained 20 percent to 2.34 billion euros, trailing the 2.46 billion-euro average estimate.