STOX.CZ (Grant Capital)
World markets  |  January 16, 2013 12:45:17

SAP woke DAX

Yesterday's sharp decline in the German index, caused mainly by the results of aces SAP software and its relatively large weight in the whole basket started the European earnings season. So finally you can expect increased volatility titles during the disclosure of individual items of corporate income statements?

Let us now focus more on the results of the aforementioned software giant SAP. This company after an excellent year 2011, especially when its operating profit margin reached in the third quarter, for example, values ??over 100%, recorded relatively strong decline in profit in the first quarter of 2012.Every other quarter, however, announced financial results well above analysts' estimates to record sales and profit in the last quarter of this year. They even showed for the first time positive percent yoy comparison.

And yet shares two hours after publication of the preliminary profit fell by more than 5%. The cause appears to be strongly overvalued analysts' estimates of the pre-4Q operating profit of € 2 billion of interest, the amount of the profit three months earlier was 921 million Euros! The company, however, and this incredible growth has attained when reported operating income of $ 1.96 billion.Markets therefore this small deviation strongly negatively evaluate and give the hope that the European markets will begin during the current earnings season finally starting "something" happens ...


Mojmír Boček

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SAP probudil DAX

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