SAP Drops on Disappointing Cloud Figures
The miss is likely to weigh on shares although the rest of the Q2 earnings print seems solid, including the modest lift to the full-year forecast. The company also said it will transition its enterprise business to cloud subscriptions from licensing models to take advantage of the faster-growing market. Market Was Expecting More From CloudSAP said that it generated Q2 revenue of 7.55 billion euros ($8.4 billion), just below the expected 7.6 billion euros. Cloud revenue was up 19% year-over-year to 3.32 billion euros, missing the analyst target of 3.40 billion euros. “This has been another stro...