SAP Falls as Trade War Concerns Temper Strong Cloud Growth [Yahoo! Finance Canada]
SAP SE ADS (SAP)
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Source: Yahoo! Finance Canada
(Bloomberg) -- SAP SE shares fell after the German software company flagged concerns about tariff insecurities and currency fluctuations even as cloud revenue posted solid growth. Most Read from Bloomberg Cloud and software revenue increased 11% to €7.97 billion ($9.4 billion) in the period ended June 30, the Walldorf, Germany-based company said Tuesday in a statement. That compares to analysts' average estimate of €7.99 billion, according to data compiled by Bloomberg. The company has shown resilient cloud growth in the face of geopolitical instability, as customers who decide to switch from on-premise servers typically commit to complex, multiyear migration projects that can't easily be dialed back. SAP's stock soared over the past year, and the company surpassed Dutch chip machine maker ASML Holding NV to become Europe's most valuable business. Persistent uncertainties are increasing pressure on global trade and customers find it harder “to make well-informed decisions,” C
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