SAP stock was climbing on Tuesday as the German enterprise software giant bucked a trend of downbeat earnings reports from software companies.
SAP—which is Europe’s second largest tech company after chip-making equipment company ASML Holding —said alongside an earnings announcement late Monday that its planned restructuring would lead to between 9,000 and 10,000 job cuts at a cost of around 3 billion euros ($3.26 billion).
SAP had previously said the changes would affect 8,000 employees at a cost of €2 billion.
As a result of the increased cuts, SAP now expects to generate profits of €10.2 billion in 2025, compared with the €10 billion it had previously forecast.
American depositary receipts of SAP—about which Barron’s wrote favorably in March—were up 5.5% at $211.56 in early trading, having risen 51% over the past year as of Monday’s close. Its German stock was up 6.1% at €195.68 in local trading.
https://www.barrons.com/articles/sap-earnings-stock-price-04efcd7c