Software AG Q1 operating profit drops on investments
LONDON May 2 (Reuters) - German business software maker Software AG on Friday reported a 27 percent fall in its first-quarter operating profit as investments weighed on its results.
Earnings before interest and tax (EBIT) dropped to 30.5 million euros ($42.3 million), while sales fell 7 percent to 208.9 million. That was below average analyst expectations of 29.6 million euros and 221 million euros, respectively.
Germany's second-largest business software maker after SAP said it still expected operating profit to rise between 2 and 7 percent in 2014. ($1 = 0.7212 Euros) (Reporting by Harro ten Wolde; Editing by Ludwig Burger)
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