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Stock impact report

Citizens Downgrades SAP SE (SAP) After CRB Growth Slows to Nine-Quarter Low [Yahoo! Finance]

SAP SE ADS (SAP) 
Last sap se ads earnings: 4/21 01:00 am Check Earnings Report
US:NYSE Investor Relations: sap.com/investors/en.html
Company Research Source: Yahoo! Finance
from Market Outperform to Market Perform after CRB slowed to lowest rate in 9 quarters. Macro-driven uncertainties further pushed the firm to take a step back from its bullish view. The rating downgrade follows the company's disappointing fourth-quarter results. SAP reported “disappointing top-line results” with non-IFRS earnings per share of €1.62, exceeding consensus estimates of €1.51, and operating profit of €2.83 billion, higher than the expected €2.75 billion. Even though it beat bottom-line expectations, its total revenue of €9.68 billion fell short of the €9.75 billion consensus. Meanwhile, cloud revenue reached €5.61 billion, missing the anticipated €5.64 billion. Citizens noted that the most important has been current cloud backlog (CRB) growth, which slowed to 25% in constant currency, missing expectations and marking the slowest growth rate in nine quarters. SAP said the significant slowdown was due to a deal mix weighted to “larger transformations, many of which i Show less Read more
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