(Bloomberg) SAP SE shares jumped the most in more than three years after the German software company said its planning a restructuring that will affect about 8,000 jobs and increase its focus on artificial intelligence. The company projected that operating profit would rise to roughly 10 billion ($10.9 billion) next year as result.
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The shares jumped 6.2% at 10:35 a.m. in Frankfurt after earlier jumping as much as 8.2% to 161.54, the biggest intraday gain since July 2020 and a record high.
As part of the restructuring this year, SAP will increase its focus on growth areas, particularly artificial intelligence for business, and identify AI-driven efficiencies in its operations, it said in a statement late Tuesda…
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