SAP reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
SAP announced earnings per share of €0.85 on revenue of €6.52B. Analysts polled by anticipated EPS of €0.93 on revenue of €6.5B. That with comparison to EPS of €0.9 on revenue of €6.12B in the same period a year before. SAP had reported EPS of €1.82 on revenue of €8.05B in the previous quarter. Analysts are expecting EPS of €1.13 and revenue of €6.65B in the upcoming quarter.
SAP shares are down 8% from the beginning of the year , still down 14.66% from its 52 week high of €129.60 set on February 19. They are outperforming the STOXX 600 which is down 21.15% year to date.
SAP shares lost 2.31% in intra-day trade following the report.
SAP follows other major Technology sector earnings this month
SAP's report follows an earnings beat by Sartorius AG VZO on Tuesday, who reported EPS of €0.83 on revenue of €509.9M, compared to forecasts EPS of €0.82 on revenue of €501.85M.
Scout24 AG had beat expectations on March 26 with first quarter EPS of €0.36 on revenue of €158.2M, compared to forecast for EPS of €0.34 on revenue of €158.44M.
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