SAP SENYSE: SAP

NEW YORK, NY / ACCESSWIRE / October 27, 2024 / Pomerantz LLP is investigating claims on behalf of investors of SAP SE ("SAP" or the "Company") (NYSE:SAP). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext.

European tech leaders warn against stifling AI innovation as SAP's CEO pushes back on European Union regulations. At the same time, the FDA rolls out new healthcare AI oversight measures, and major tech companies struggle to meet European compliance standards.

NEW YORK, NY / ACCESSWIRE / October 23, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of SAP SE ("SAP SE") (NYSE:SAP) concerning possible violations of federal securities laws. On September 25, 2024, Bloomberg News reported that the U.S. Department of Justice was investigating SAP and other companies for potentially conspiring to overcharge U.S. government agencies over the course of a decade, by "fix[ing] prices on sales to the U.S. military and other parts of the government".

Shares of SAP SE SAP continued to rise in early trading on Tuesday after the company reported its third-quarter results.

American depositary receipts (ADRs) of SAP (SAP) traded at an all-time high Tuesday, a day after the German business software giant reported better-than-anticipated results and boosted its sales outlook on booming demand for its cloud products.

SAP's Q3 2024 performance benefits from continued business momentum in its cloud offerings and AI innovations.

SAP's 3Q24 results showed 10% y/y revenue growth, driven by 27% y/y cloud revenue growth and strong S/4 HANA migration traction. Management revised FY24 guidance upwards, expecting adj EBIT growth of 20-23% y/y and cloud/software revenue growth of 10-11% y/y. AI adoption is accelerating, with 20% of deals including premium AI features, enhancing SAP's cloud offerings and driving growth.

Christian Klein, head of German software giant SAP, says Europe risks falling behind the U.S. and China if it ends up overregulating the AI sector.

SAP has overtaken ASML to become Europe's most valuable technology company after a strong set of third-quarter results that saw the German software company lift its full-year outlook.