Germany's SAP scrapped its 2008 revenue outlook and cut its forecast for its full-year operating margin amid a global economic crisis that hurt demand for its business software.
"In light of the uncertainties surrounding the current economic and business environment, the company decided to no longer provide a specific outlook for Non-GAAP software and software-related service revenues for the full-year 2008," SAP said in a statement late on Monday.
OK, this is bad.
When SAP came out several weeks ago and said business had fallen off, it sent a cold chill throughout European stock markets.
Everything is getting worse faster.
I think it's time to revisit this post: Depression: 2009