Thursday, April 30, 2009

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SAP's Q1 misses forecasts

Germany's SAP posted a worse than expected 8 percent fall in its first-quarter operating profit on Wednesday, as software revenues slumped, and told investors not to expect an upturn before next year.

Leo Apotheker, who shares the top position at SAP with Henning Kagermann until June, said the first quarter had been the "toughest quarter since World War Two". But, speaking on CNBC, he added: "Hopefully we will see an upturn in 2010".


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