Mixed Results for SAP in 2Q
SAP announced a profit of $240 million that was about 18 percent better than the profit in the first quarter, but sales for the quarter fell 8 percent to $1.83 billion.Software giant SAP AG announced a mixed bag of second-quarter earnings on July 17, as an up-and-coming rival trounced analyst expectations. SAP announced a profit of $240 million (219 million euro) that was about 18 percent better than the profit in the first quarter. It beat a loss of about the same size in the the same quarter last year, when the company wrote off 297 million euro for its tanking investment in Commerce One Inc. However, sales for this second quarter fell 8 percent to $1.83 billionshort of analysts expectations.
At the same time, the new number two software applications provider PeopleSoft Inc. announced license revenues of $112 million, a sequential increase of 38 percent, and total revenues of $497 million, an 8 percent sequential increase.