By Harro Ten Wolde WALLDORF, Germany (Reuters) - Europe's largest software group SAP SE cut its 2017 operating profit outlook on Tuesday, saying its push into cloud-based delivery will further eat into profit margins before clearing the way for profits to expand from 2018 onward. The German company's move to deliver business planning software via the cloud, or as internet services from data centers rather than as packaged software on a customer's in-house computers, has forced it to backtrack on near- and medium-term margin goals. SAP is struggling alongside established U.S. software makers such as Oracle Corp, IBM and Microsoft Corp to boost internet-based software sales against competition from pure cloud-based rivals like Salesforce.com Inc, Workday Inc and Amazon.com Inc. SAP shares dropped as much as 4.4 percent in early trade, the biggest losers in Germany's blue-chip DAX index. SAP, one of Europe's last big tech companies competing on a global scale, said it expects 2017 operating profit of between 6.3 billion euros ($7.3 billion) and 7 billion, excluding special items, on revenue of 21 to 22 billion.
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