SAP says big margin gains to wait until 2020, shares down 10%

FRANKFURT (Reuters) - SAP told investors not to expect a major improvement in margins before next year as the German business software group reported a 21% decline in second-quarter operating profit on Thursday, sending its shares sharply lower.Europe's most valuable tech firm reiterated its forward guidance and CEO Bill McDermott expressed his "absolute commitment" to meeting a strategic goal of expanding margins by 5 percentage points through 2023.Shares fell 10% at the open as revenue and..