SAP AG pushed back its profitability target by two years as it shifts sales efforts from traditional business software licenses to programs delivered over the Internet. The shares fell the most in six months.
SAP AG, the biggest maker of business-management software, reported higher earnings on rising cloud and database revenue, alleviating investor concerns that stiffer competition is hurting profitability.
SAP AG will end its dual chief executive officer structure next year, with Bill McDermott becoming sole leader as the largest maker of business-management software battles intensifying competition amid a shift in demand to Internet-based applications.
Infineon Technologies AG reported better-than-expected profit after boosting sales of chips in industries from automotive to power management. Europe’s second- biggest semiconductor maker said it won’t reach a profit target in the “short term” as it expands production in Dresden.
Infineon Technologies AG named a new supervisory board chairman and chief financial officer in a move that may help to end internal quarrels at Europe’s second- biggest chip maker and assuage rebel shareholders.