SAPQ4 after-tax profit fell 77% year-on-year, plans to sell Qualtrics shares and lay off 3,000 employees

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German business software giant SAP has announced its financial reports for the fourth quarter and full year of 2022. According to the data, according to the International Financial Reporting Standards (IFRS), SAP’s total revenue in the fourth quarter was 8.436 billion euros, a year-on-year increase of 6%. Operating profit was 1.707 billion euros, a year-on-year increase of 17%; after-tax profit was 332 million euros, a year-on-year decrease of 77%; diluted earnings per share was 0.47 euros, a year-on-year decrease of 62%. SAP also said it would explore selling its remaining stake in Qualtrics International Inc. and begin restructuring, while cutting 2.5 percent of its jobs this year in an effort to find ways to boost profits. The total number of layoffs is about 3,000. (Financial Association)
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