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SAP shares rise after positive quarterly figures
Analysts praise SAP's quarterly figures - shares rise. Discover why the numbers ensure good mood in the markets. benefit from the positive news!
SAP shares rise after positive quarterly figures
SAP's positive quarterly figures caused the German leading index Dax to rise by 0.9 percent on Tuesday, allowing it to climb back just above the 18,000 point mark. The company increased cloud revenue by almost a quarter in the first quarter, which led to fairly good reactions from analysts. Despite an operating loss due to conversion costs, CEO Christian Klein optimistically confirmed the forecasts for the current year. The figures and the maintained outlook resulted in gains on the financial market, which was also reflected in an increase in depository receipts traded in the USA. SAP plans to cut around 8,000 jobs in order to focus more on artificial intelligence applications and reduce costs. With a loss of 824 million euros, the company sent a clear signal for the desired changes in the corporate structure.