SAP Delays Profitability Target Amid Cloud Push
This article is for subscribers only.
SAP AG pushed back its profitability target by two years as it shifts sales efforts from traditional business software licenses to programs delivered over the Internet. The shares fell the most in six months.
The largest maker of business-management software said operating profit adjusted for some items will probably reach 35 percent of sales by 2017 rather than in 2015 as previously projected. Analysts had predicted SAP would miss the 2015 profitability target, reaching 34.1 percent by that time, according to estimates compiled by Bloomberg.