SAP: "Very Sudden and Unexpected Drop" in Business Pressuring Enterprise IT Stocks

October 6, 2008 at 11:04 am PT

Adding fuel to the raging fire on which stock valuations are now burning, SAP (SAP) co-CEO Henning Kagermann this morning warned in a statement that market developments of the last few weeks have been “dramatic and worrying to many businesses,” which has triggered a “very sudden and expected drop in business activity” late in the company’s third quarter.

“Throughout the third quarter we felt quite positive about our ability to meet our expectations,” he said. “Unfortunately, SAP was not immune from the economic and financial crisis that has enveloped the markets in the second half of September, causing us to report numbers below our expectations.”

Read the rest of this post

Tagged with: Barrons, Eric Savitz, frontpage, Henning Kagermann, SAP, Tech Trader Daily

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.