SAP Profits Tumble 21 Percent, Despite Strong Cloud Growth

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SAP profits tumbled by over a fifth in 2019 — a fall the German software giant blamed on the costs of its Qualtrics acquisition and a global restructuring programme that has seen it lay off over 4,000 members of staff amid a “root and branch” overhaul.

(Despite the cuts it ended 2019 with 3,832 more staff than in Q4 2018).

IFRS profits fell 21 percent to €4.4 billion, but the company blamed one-off costs for the sharp reduction, and updated its guidance for 2020 on strong cloud performance, which saw new

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