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Delayed IT projects and offloading the SAP business have dealt Software AG’s business a double blow for its latest quarter.
Germany’s other major software maker today reported a second-quarter revenue drop of 18 per cent to €196m ($263.9m) and net income halved to €14.2m ($19.1m).
Earnings per share was also almost halved to €0.18 ($0.24).
In line with the company's on-prem peers, sales of new software slumped: new licences for the Business Process Excellence (BPE) portfolio was down 24 per cent to €32.7m ($44m) and ETS database licences fell 47 per cent to €17.4m ($19m).
Maintenance of its software was up – again, just like Software AG’s rivals: BPE climbed seven per cent to €51.9m ($61.8m) and ETS rose 11 per cent to €38.3 ($51.5m).
Consulting took a hit, falling six per cent to €47.2m.
The company blamed delays to big ticket project sign-offs for the fall in customers' spending on new Software AG licenses.
Chief executive Karl-Heinz Streibich is reported here to have called the drop in BPE a
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