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SAP goes all in on cloud, scraps mid-term margin goals - TL;DR CNBC

SAP goes all in on cloud, scraps mid-term margin goals

Publishing timestamp: 2020-10-26 07:08:58


Summary

SAP's shift to cloud computing leads to a drop in shares as the company abandons medium-term profitability targets and warns of a longer recovery from the pandemic. Investors react by selling shares, leading to a downgrade by JPMorgan. The company's new strategy means margins will suffer for the next three years before improving.


Sentiment: NEGATIVE

Tickers: .BBKA

Keywords: earningssap agbusiness news

Source: https://www.cnbc.com/2020/10/26/sap-forecasts-headwinds-through-2023-as-it-forces-cloud-transition.html


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