Another enterprise IT vendor comes up short tonight. SAP reports weaker Q3 results & cuts their outlook for the full year. SAP cited an “uneven” recovery and says “companies are facing more business uncertainty.” https://www.wsj.com/...
@business
@business on x
SAP cut its revenue forecast for the full year and said it expects the coronavirus pandemic to hurt demand through “at least” the first half of 2021 https://www.bloomberg.com/...
@schuldensuehner
Holger Zschaepitz on x
OUCH! SAP shares collapse after new lockdowns force cuts to revenue. Previous outlook incorrectly ‘assumed economies would reopen’ German software maker also delays longer-term financial goals https://www.bloomberg.com/... https://twitter.com/...
@thestalwart
Joe Weisenthal on x
Shares of the German software company SAP are crashing today after the company cited weakness due to lockdowns/weak economy. Raises questions about why other enterprise software companies aren't seeing the same thing. https://www.bloomberg.com/...
@trengriffin
Tren Griffin on x
SAP “said total revenue fell 4% to €6.54B, equivalent to $7.76B, in the third quarter, and operating profit slipped 1% to €2.07B. Cloud revenue rose 10% to €1.98B, and revenue from software and cloud services combined fell 2% to €5.5B.” https://www.google.com/...