US EditionSAP shares set for biggest daily drop since 2020
26 Articles
26 Articles
The software group SAP has disappointed investors with its quarterly figures and the outlook. The DAX has also significantly declined today, bagged by high losses of the heavy-weight share.
SAP is Europe's largest and most powerful tech company – and the only one to compete internationally. After the release of the annual figures, the stock is now crashing, investors are losing confidence.
German software developer SAP more than doubled its net profit last year to 7.5 billion euros, with revenue up 8 percent to 36.8 billion euros, despite a weak dollar that significantly dented growth.
SAP shares recorded the largest decline in a long time: the price fell by more than 16 percent after the announcement of the business figures.
SAP shares set for biggest daily drop since 2020
MILAN, Jan 29 : Shares in Europe's largest software maker SAP were set for their steepest daily fall since October 2020 on Thursday, down over 10 per cent after results failed to stem a slide that has wiped around $150 billion off its market value from its 2025 peak.The German group reported fourth-quarter re
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