Software AG Drops as Second-Quarter Sales Miss Analyst Estimates
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Software AG, Germany’s second-largest maker of business software, fell the most in two years in Frankfurt trading after reporting second-quarter sales that missed analysts’ estimates.
Revenue will be 256 million euros ($364 million) to 258 million euros, hurt by currency moves and the unexpected failure to close software-license deals, the Darmstadt-based company said late yesterday. Demand for implementation of products from SAP AG, the world’s largest maker of business-management software, fell from last year, it said. Sales had been seen at 280 million euros, the average estimate in a Bloomberg survey of eight analysts.