Bill Snyder

SAP Offers Rare Upside Surprise

 

Pro forma operating margins are expected to increase by 100 basis points, or one percentage point, the company said.

A spokesman for SAP at the company's headquarters in Walldorf, Germany, said SAP will not hold a conference call or comment further until it reports actual results for the quarter before the opening bell on July 22.

Friedman noted that SAP's business is very heavily weighted toward the fourth quarter of the year, meaning that first half results are indicative of a trend, but less crucial to the company's fortunes than would otherwise be the case. Fulcrum is an independent research house and does no banking.

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