SAP says big margin gains to wait till 2020
Reuters
Published Jul 18, 2019 01:11AM ET
Updated Jul 18, 2019 05:27AM ET
FRANKFURT (Reuters) - SAP (DE:SAPG) told investors they can expect a major improvement in margins only next year as the German business software group reported a 21% decline in second-quarter operating profit on Thursday, weighed down by one-off costs.
SAP nonetheless reiterated its forward guidance as CEO Bill McDermott expressed his "absolute commitment" to meeting a strategic goal of expanding margins by 5 percentage points through 2023.
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Written By: Reuters
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