SAP Lowers Outlook, Stock Falls
Posted on October 28, 2009 at 11:30 AM EDT
FRANKFURT German business software maker SAP early Wednesday said its third- quarter profit rose 12%, as a drop in revenue was partly offset by a lower tax rate and better profit margins. But its lowered outlook sent the shares down sharply in early trading. SAP, based in Walldorf, reported per-share profit ex items, including accounting for its Business Objects acquisition, was 0.41 euro, or 61 cents, flat