Business software maker SAP has reported slower than expected revenue growth and a drop in profits for the third quarter.
It cited lower contribution from software licenses revenue as well as investments in growth for the slowdown.
Total revenue grew by 5% in currency-adjusted terms to €7.84 billion, SAP said today, missing analyst consensus for a jump to €8.49 billion.
Non-IFRS operating profit came to €2.094 billion in the three months to September, an 8% drop at constant currencies. Earnings per share of €1.12 fell short of consensus for €1.62.
SAP stuck with a forecast for full-year operating profit to come to €7.6 billion to €7.9 billion euros, which it had cut from €7.8 billion-8.25 billion in July.
