SAP Cuts 2020 Sales Outlook Citing Covid-19 Impact on Demand

(Bloomberg) — SAP SE cut its revenue forecast for the full year and said it expects the coronavirus pandemic to hurt demand through “at least” the first half of 2021 as a fresh wave of lockdowns hits businesses globally.The pandemic will delay SAP’s goals for cloud revenue, overall sales and operating profit by one or two years, especially in hard-hit industries, the German software company said in a statement on Sunday.Chief Executive Officer Christian Klein, who became sole CEO in April, has been trying to navigate spending freezes from business customers trying to ride out the Covid-19 lockdowns this year. …read more

Source:: Yahoo Finance


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