SAP +3.7% on mixed Q1 with FY18 guidance boost

|About: SAP AG (SAP)|By:, SA News Editor

SAP (NYSE:SAP) shares gain 3.7% premarket on Q1 results that beat EPS estimates but narrowly missed on revenue.

Revenue breakdown: New cloud bookings, €245M (+25% Y/Y constant currency); Cloud subscriptions and support revenue,  €1.07B (+31% non-IFRS, cc); Software revenue, €625M (-2% non-IFRS, cc); Cloud and software revenue, €4.35B (+9% non-IFRS, cc). 

Key metrics: Operating profit, €1.03B (non-IFRS, cc); operating cash flow, €2.58B (-10%); FCF, €2.15B (-17%); net liquidity, €546M. 

Upside FY18 guidance was raised to reflect the Callidus acquisition closing and has revenue of  €24.8-25.3B (consensus: €24.3B). Non-IFRS cloud subscriptions and support revenue expected from €4.95B to €5.15B (+31% to 35% in constant currency; was: €4.8 - €5.0B). Cloud and software revenue expected from €20.85B to €21.25B (+6.5% to 8.5%; was: €20.7B to €21.1B). Operating profit expected from €7.35B to €7.5B (+8.5% to 11%; was: €7.3B to €7.5B). 

Press release     

Previously: SAP SE EPS in-line, misses on revenue (April 24)

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