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: earnings, sap ag, business news,