SAP Reports 3Q Profit Jump, Backs Guidance
21 Ottobre 2019 - 7:57AM
Dow Jones News
By Max Bernhard
SAP SE (SAP) on Monday reported a significant rise in
third-quarter net profit and revenue, and reiterated its guidance
for the full year.
Net profit in the period rose 28% to 1.25 billion euros ($1.40
billion) from EUR971 million a year earlier, the German software
company said. Revenue for the quarter was EUR7.79 billion, up 13%,
while SAP's closely watched revenue from cloud subscriptions and
support increased by 37% to EUR1.79 billion.
SAP had already reported some preliminary figures for the
quarter earlier in the month, when it said that Bill McDermott,
then chief executive, would step down. Executive board members
Jennifer Morgan and Christian Klein were named co-CEOs at the
time.
The company reiterated its full-year guidance, continuing to
expect non-IFRS cloud revenue of between EUR6.7 billion and EUR7.0
billion at constant currencies and non-IFRS operating profit
between EUR7.85 billion and EUR8.05 billion at constant
currencies.
The company said it expects total revenue to increase strongly
in the full year at a rate lower than operating profit.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
October 21, 2019 01:42 ET (05:42 GMT)
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