BERLIN—SAP said Thursday that it is cutting up to 3,000 jobs worldwide, or about 2.5 percent of its workforce, after a sharp drop in profits at Europe’s biggest software company. It comes amid a broader wave of job cuts in the technology industry, including mass layoffs at Google, Amazon, Microsoft, and other tech giants in…
SAP to Cut Up to 3,000 Jobs Worldwide, Mulls Qualtrics Sale
January 26, 2023
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Germany’s SAP Joins Western Corporate Exodus From Russia
STOCKHOLM—Business software group SAP plans to exit Russia completely in response to Moscow’s invasion of Ukraine, although it said on Tuesday it might be possible for Russian users to run its software for years without support. SAP joined a long list of companies, including rival Oracle last month in halting the sale of its services…
Exploding Maple Trees Rock Texas Winter
February 12, 2022
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The next time you hear a loud “crack” outside on a moonless winter night, don’t assume it’s someone firing a weapon. It could just be an exploding tree. In Collin County, Texas, locals recently heard a number of trees cracking in the icy weather. “We listened to them all night. Sounds like gunshots going off,”…
SAP Clocks 3 Percent Revenue Growth in Q4 Backed by Cloud Strength; Issues Robust FY22 Outlook; Aims to Acquire Taulia
SAP SE reported fourth-quarter FY21 revenue growth of 3 percent year-on-year to €7.98 billion at constant currencies. Cloud revenue increased 24 percent Y/Y to €2.61 billion at CC. S/4HANA cloud revenue grew 61 percent Y/Y to €329 million at CC. Software licenses revenue declined 17 percent Y/Y to €1.46 billion at CC. Cloud and software revenue…
UBS Sees Cloud Growth Reacceleration to Lead to SAP’s Re-rating
UBS analyst Michael Briest upgraded SAP SE to Buy from Neutral with a price target of EUR 147, up from EUR 130, implying an 8.6 percent upside. The analyst believes a reacceleration of cloud growth will drive a re-rating of the shares in 2022. Briest is more confident in the benefit to revenues from backlog…
European Stocks Reverse Losses on Strong SAP, LVMH Results
October 13, 2021
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European stocks recouped early losses on Wednesday as upbeat earnings forecast from German software group SAP and robust quarterly sales for French luxury goods maker LVMH helped soothe worries about inflation. By 0824 GMT, the pan-European STOXX 600 index was up 0.2 percent after falling as much as 0.4 percent in opening trade. The German…
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