Why SAP Stock Plummeted 31.1% in October
Shares of SAP (NYSE: SAP) sank 31.1% in October, according to data from S&P Global Market Intelligence. The stock fell after the company reported concerning third-quarter results and full-year guidance late in the month.
SAP reported Q3 earnings on Oct. 25, with sales coming in below the market's expectations but profits topping the average target. Revenue for the period fell roughly 4% year over year to land at 6.54 billion euros, but adjusted earnings per share rose roughly 31% to 1.70 euros. Sales for the period missed the market's target by roughly 300 million euros, and adjusted earnings beat the average target by 0.40 euros.
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Source Fool.com
