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.
Further, the company announced restructuring program, which is expected to affect approximately 2.5 percent of SAP's employees, which comes nearly 3,000 positions. As of December 31, 2022, the total workforce was 111,961 employees.
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