BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of SAP SE (“SAP” or the “Company”) (NYSE: SAP) investors concerning the Company’s possible violations of federal securities laws.
On October 25, 2020, SAP announced its third quarter 2020 financial results, reporting that total revenue declined 4% year-over-year. The Company also stated that software license revenue fell 23% year-over-year, while cloud revenue grew 11% year-over-year. SAP also lowered its fiscal 2020 guidance, expecting between €8.0 and 8.2 billion cloud revenue, compared to prior guidance of cloud revenue between €8.3 and 8.7 billion.
On this news, the Company’s share price fell $34.66, or 23%, to close at $115.02 per share on October 26, 2020, on unusually heavy trading volume.
If you purchased SAP securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.