Overall excellent performance of SAP AG last year was not enough to abate investor disappointment as they dumped shares of the German business software maker after the company missed its target earnings by a slim margin and failed to keep up with rival Oracle.
SAP’s revenues grew 12 per cent to 5.06 billion euros or US$ 6.8 billion, below analyst forecast of 5.17 euros, the SiliconValley.com reported. By contrast, the company’s biggest rival, Oracle, ported a 17 per cent jump in software revenue.
Shares of SAP slipped by 3.8 per cent yesterday and traded as low as 57.77 euros, its lowest in two months, the report said.
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Oracle buys InstantisInvestments in cloud-based products impacted its operating profits, according to SAP.
The company snapped up Internet firms Ariba and SuccessFactors for $7.7 billion last year. However, the two posted just $454 million in revenues in 2012.
Accenture, SAP add Toronto innovation centre
Oracle buys InstantisInvestments in cloud-based products impacted its operating profits, according to SAP.
The company snapped up Internet firms Ariba and SuccessFactors for $7.7 billion last year. However, the two posted just $454 million in revenues in 2012.
SAP has retooled its cloud and analytics strategy.
Last year, SAP partnered with social analytics vendor NetBase, but some industry experts predict that the software company may decide to go the acquisition route this year when it seeks to gain analytics technology.
