SAP Income

SAP Income

Revenue at software giant SAP plummeted 31 per cent during its third fiscal quarter and the company is now forecasting lower income percentages by year-end.
The IT company posted data revenue of €525m (£477m) for the period compared with €763m (£691m) in the third quarter of 2008 and €543m (£491.8m) in the second quarter of 2009.

SAP’s US GAAP IT service income fell by one per cent compared with the same period a year go from €614m (£555m) to €606m (£508m), while non-GAAP operating income also slid eight per cent from €731m (£662m) to €674m (£611m) in the same quarter 2008.

The firm partly blamed the decline on operating income to the acquisition of Business Objects earlier this year.By comparison, SAP’s biggest rival Oracle has announced a six per cent drop in sales for the third quarter, beating market expectations.