SAP growth in cloud bookings is down, sending shares down
The tech company’s stock fell as much as 10% in Frankfurt trading, with an ‘underwhelming’ second-quarter performance
18 July 2019 - 13:28
Berlin — SAP’s $10bn bet on its cloud business hit a bump after order entry slowed in the second quarter and a push to improve profit margins failed to make progress.
The decrease in growth in new cloud bookings, a keenly watched metric because it indicates future revenue, underscores the difficult transition to internet-based software as CEO Bill McDermott challenges rivals such as Salesforce.com and Oracle...
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