⁍ SAP forecasts headwinds over next few years as it rebounds from coronavirus pandemic.
⁍ CEO Christian Klein: ‘The company will become more resilient by accelerating its move to the cloud’
SAP scrapped its mid-term guidance and cut its 2020 outlook.
– SAP, the world’s second-largest business software company, reported stronger-than-expected third-quarter earnings on Monday, helped by strong demand for its new cloud-based software. The company’s stock jumped more than 5% in after-hours trading, reports the Wall Street Journal. The company’s stock has fallen more than 10% this year.
Source: https://www.reuters.com/article/sap-se-results/sap-forecasts-headwinds-through-2023-as-it-forces-cloud-transition-idUSS8N2ET034