Wednesday, October 18, 2006
Bloomberg.com: Germany
Bloomberg.com: Germany: "Profit probably climbed to 381 million euros ($477 million) from 334 million euros, the median estimate of 17 analysts in a Bloomberg survey. License revenue, a gauge of future fees from consulting and maintenance, may have gained 14 percent to 670 million euros as American sales jumped 18 percent.
SAP, based in Walldorf, Germany, already gets more software revenue in the U.S. than any other country by helping clients such as Gap Inc. and JPMorgan Chase & Co. run billing and payroll tasks. SAP may lower its annual license sales forecast after the dollar fell 6 percent against the euro this year, Goldman Sachs Group Inc. analyst Mohammed Moawalla said.
``They set the bar really high at the beginning of the year,'' said Andrew Koettner, who manages the equivalent of $2.5 billion at Union Investment in Frankfurt, including SAP shares. ``It will be a challenge to meet the full-year guidance and a lot will depend on the fourth quarter.''"
SAP, based in Walldorf, Germany, already gets more software revenue in the U.S. than any other country by helping clients such as Gap Inc. and JPMorgan Chase & Co. run billing and payroll tasks. SAP may lower its annual license sales forecast after the dollar fell 6 percent against the euro this year, Goldman Sachs Group Inc. analyst Mohammed Moawalla said.
``They set the bar really high at the beginning of the year,'' said Andrew Koettner, who manages the equivalent of $2.5 billion at Union Investment in Frankfurt, including SAP shares. ``It will be a challenge to meet the full-year guidance and a lot will depend on the fourth quarter.''"
