real-time news and commentary for investors
Monday, Oct 21
SAP operating profit rises 5%
- SAP's (SAP) Q3 adjusted operating profit rose 5% to €1.3B, slightly below consensus of €1.32B.
- Revenue +2% to €4.05B.
- Sales from license sales declined for the second quarter in a row and dropped 5% to €975M vs expectations of €988M, hurt by sharp currency swings in Asia and the Americas.
- Sales from cloud subscriptions more than doubled to €197M, while revenue from SAP's Hana database software jumped 79% to €149M. Over 2,100 customers use the product.
- SAP reiterated its July forecast that it expects double-digit percentage growth in revenue for software and software-related services, excluding forex fluctuations. However, the company expects currency swings to hurt its overall earnings. (PR)