SAP Profit Takes a Hit

Susan Hall

Profit at German software maker SAP fell 16 percent in the first quarter, reports MarketWatch.

 

Net profit dropped to 204 million euros ($269 million), or 0.17 euro a share, from 242 million euros ($316 million), or 0.20 euro a share a year earlier. The company also took a charge of 160 million euros ($209 million) as part of cutting 2,200 positions.

 

Software revenues took a greater hit than services, plunging 33 percent to 418 million euros ($545 million), noted vnunet.com.



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