SAP Cuts Profit Outlook as More Customers Switch to Cloud | Re/code

A market mainstreaming milestone for cloud platforms

"German business software maker SAP on Monday cut its outlook for full-year operating profit amid an accelerating shift by customers to buy its software over the Internet rather than as packaged software, delaying recognition of those sales.

SAP said it now 2014 expects operating profit, excluding some special items, of 5.6 billion to 5.8 billion euros ($7.14 billion to 7.40 billion), down from 5.8-6.0 billion euros previously."

SAP Cuts Profit Outlook as More Customers Switch to Cloud | Re/code