- German software giant SAP reported a bottom line undermined by heavy restructuring costs, but lifted forecasts for the year ahead.
A strengthening dollar, global inflation, and supply chain issues related to Covid lockdowns in China have been major headwinds for many tech companies.
But SAP CEO Christian Klein says the European software giant is an exception.
Other large tech companies, including Salesforce, Microsoft and IBM have said the strong dollar will hurt profits in the near term.
But, SAP is on a path to success in ERP cloud and they control their own destiny."