SAP Stock Down On Weak Q4 Profit, Sees Growth In FY23; To Cut 2.5% Jobs; Mulls Qualtrics Stake Sale

Shares of SAP AG were losing more than 3 percent in the morning trading in Germany as well as in pre-market activity on the NYSE after the German software major reported Thursday sharply lower profit in its fourth quarter, despite higher revenues. Looking ahead for fiscal 2023, the company projects accelerating topline and double-digit adjusted operating profit growth.

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