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Software AG Q3 profits slip on weak revenue growth
October 20, 2017 / 5:01 AM / 3 months ago

Software AG Q3 profits slip on weak revenue growth

FRANKFURT, Oct 20 (Reuters) - Software AG reported a decline in third-quarter core profits as its digital, database and consulting divisions all showed lacklustre growth, but affirmed its full-year guidance.

Germany’s No.2 business software maker after SAP said on Friday its adjusted earnings before interest, tax and amortisation (EBITA) fell 5 percent to 63.6 million euros ($75.2 million), just worse than analysts had expected.

Revenues rose 2 percent in constant-currency terms to 197.3 million euros, below the mean forecast of 212 million euros in a Reuters poll of analysts.

Software AG confirmed its full-year guidance for core operating margins of 31 to 32 percent that it had raised after its second-quarter results.

$1 = 0.8460 euros Reporting by Douglas Busvine; Editing by Maria Sheahan

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