SAP, Europe’s largest software company, blamed US-China trade tensions for disappointing second-quarter profits that sent its shares sliding on Thursday.
The trade dispute between the two economic superpowers dented software sales in Asia as companies delayed spending decisions, leaving SAP’s revenues from selling licences short of analysts’ expectations.
The group, which competes with the likes of Oracle and Salesforce to provide business software to the world’s largest companies, is the latest multinational to be caught up in the fallout from the long-running trade dispute.
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