Enterprise management software firm SAP has reported
third quarter income of €435m, an 11% drop compared with the same
period the year before.
This was just over 4% less than the average predicted by
analysts, according to
Bloomberg.
SAP said sales for the quarter dropped 9.2% to €2.51bn, also
roughly 4% below average analyst estimates.
The firm said it expects software sales to drop more than
initially forecast as customers delay spending during the economic
slump.
Software and related service revenues were lower than expected,
mainly because of a challenging environment in the emerging markets
and Japan, said Werner Brandt, chief financial officer at SAP.
"While we are seeing signs of stabilisation in the general
environment, the market remains difficult," he said.
Last month, SAP's biggest rival,
Oracle, reported a third quarter sales drop of 6.6% and 5%
decline in revenues compared with the previous year.
