SAP: Sales are dropping
German software maker SAP has notified that their sales went down massively last month.
Analysts say that this could be due to less spending by companies due to widening financial crisis in the US market.
This revelation led to a major drop in the stock price of SAP. It also affected their major rivals Oracle.
Market analyst Michael McCarty spoke about tech companies lowering their profit expectations in the current quarter: “You are going to hear more and more companies pulling back on expectations.”
SAP Co-Chief Executive Henning Kagermann had this to say: “The market developments of the past several weeks have been dramatic and worrying too many businesses. These concerns triggered a very sudden and unexpected drop in business activity at the end of the quarter.”
|
TechWhack on Facebook
|
Related Posts
|
Popular Posts
|
This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.