World Economy

SAP Cuts Profit Outlook German business

SAP Cuts Profit Outlook German businessSAP Cuts Profit Outlook German business

software maker SAP on Monday cut its outlook for full-year operating profit amid an accelerating shift by customers to buy its software over the Internet rather than as packaged software, delaying recognition of those sales, Reuters reported. SAP said it now expects 2014 operating profit, excluding some special items, of 5.6b to 5.8b euros ($7.1-7.4b), down from 5.8-6.0b euros previously. SAP reported a 5% rise in third-quarter operating profit, excluding special items, to 1.36b euros, which was slightly below average expectations of 1.37b euros, according to a Reuters poll of analysts.