Shares in SAP dipped by two per cent, despite the company announcing solid second-quarter results, outperforming many analysts' expectations.
The software firm announced service revenue of £1.9bn for the second quarter of 2010, an increase of 16 per cent compared with the same period last year.
It also claimed that software and related service revenue would rise by nine to 11 per cent if sales from recently acquired database specialist Sybase were taken into account.
As a result, SAP slightly raised its sales outlook for the full year but the guidance was seen as overly cautious by some analysts and it disappointed investors, who sent SAP’s share price down by more than two per cent, according to the Financial Times.
The news came after software rivals Oracle and Microsoft reported double-digit growth in recent months, demonstrating that customers are now spending on software projects that were postponed last year due to the economic crisis.
Have your say on this article
Newsletters
Latest stories from Finance and Reporting
You may also like
Finance and Reporting jobs
Technology Patent Wars
Staff are increasingly using their personal devices for work. Productivity may increase as a result, but the trend brings with it security risks
Case studies from large organisations across all sectors
... And rich media, and flexible working, and peaks in traffic ...
Upcoming Events
Join us for this Computing web seminar, in which the Head of BI at the Co-operative Group Nick Colebourn will be explaining just how he reigned in the Group’s sprawling database estate and how significant savings were realised and data quality improved as a result.
Date: 31 May 2012
Time: 11:00 AM
Computing is pleased to announce the first Computing Summit, looking at how organisations can harness value and insight from big data. This one-day conference will provide practical insight into discovering and exploiting the value of unstructured data for improved business decision making, long term growth and competitive advantage.
Date: 28 Jun 2012
Time: 8.30am
Receive the latest jobs direct to your inbox
Are you being paid what you are worth?
