SAP shares plunged 11 percent as growth in fourth-quarter cloud contracts slowed, marking the biggest drop since 2020, CNBC reported on Jan. 29.
After SAP reported disappointing third-quarter results, its shares fell 22 percent.
CNBC said SAP's cloud backlog, deals signed but not yet booked as revenue, rose to $2.35 billion but fell short of a 26 percent growth target set by Chief Executive Christian Klein (크리스티안 클라인).
CNBC said the quarter's results showed SAP's cloud strategy fell short of market expectations.
SAP forecast cloud backlog growth in 2026 would "slow slightly."
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