SAP drops co-CEO, lowers revenue forecast in face of COVID-19 pandemic

SAP remained profitable in the first quarter, with the COVID-19 pandemic only beginning to hit cloud bookings and software license sales in the last two weeks of March, executives said in a call to discuss its first-quarter earnings on Tuesday.

The company expects the second quarter to be rougher, with the economy gradually improving in the second half of the year, and will consider delaying or financing maintenance and subscription payments to help customers through that rough patch.