SAP Shares Collapse After Lockdowns Force Cuts to Revenue

Previous outlook incorrectly ‘assumed economies would reopen’
German software maker also delays longer-term financial goals

WATCH: CFO Luka Mucic says SAP expects a “challenging” demand environment until mid-2021.(Source: Bloomberg)

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By Sarah Syed and Yueqi Yang

October 25, 2020 at 3:03 PM EDT

Updated on

October 26, 2020 at 7:24 AM EDT

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SAP SE shares dropped as much as 21%, the biggest intraday fall since 1999, after the software company cut its revenue forecast for the full year and said it expects a fresh wave of lockdowns to hurt demand through the first half of 2021.

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