From The Motley Fool
The world’s leading developer of business-management software, SAP (ADR) (NYSE: SAP), is expecting more efficiency from its staff. The company is eyeing cost cuts following a reduction in revenue guidance. SAP is now expecting its software and other, related service sales to increase by 10%, as opposed to its previous guidance of 11% to 13% growth due to a slowdown in Asia. According to unconfirmed reports, SAP wants to save around $265.6 million in the next two quarters of its fiscal year.
Earnings miss
SAP announced its quarterly results a few weeks ago in which its license sales missed estimates while the reduction in guidance caused a 2.3% drop in its shares. In the second quarter of the current fiscal year, SAP reported
