SAP Stock Slides 16% After Cloud Backlog Growth Misses Forecasts
Shares of German business-software provider SAP SE fell as much as 16% on Thursday after the company posted fourth-quarter cloud contract figures that trailed market expectations, prompting the steepest one-day decline in more than three years. The sell-off began shortly after SAP released earnings showing that its current cloud backlog—the value of contracted cloud revenue […]