SAP’s Cloud Boom Can’t Save Its Stock – DAX Teeters as Tesla Shocks Investors
SAP reported a 12% rise in Q3 operating profit to €2.48 billion, driven by 22% cloud revenue growth. Management warned cloud sales may hit only the low end of targets due to economic and geopolitical risks. SAP shares fell after hours but rebounded 2% at the Frankfurt open. The DAX index edged up 0.2%, supported by SAP’s recovery.