SAP Operating Income Rises 5%
October 12 2015 - 10:30PM
Dow Jones News
FRANKFURT—German business software provider SAP SE posted a 5%
increase in operating profit for the third quarter, boosted by
increased adoption of its cloud products.
Operating profit for the period ended Sept. 30 was €1.21 billion
($1.4 billion), compared with €1.16 billion during the same period
last year.
The company also provided an operating profit figure of €1.62
billion, based on calculations that aren't recognized under
international financial reporting standards. That showed an
increase of 15% at constant currencies, beating analysts
expectations of a non-IFRS operating profit of €1.5 billion for the
quarter, according to a recent poll conducted by The Wall Street
Journal.
Revenue rose by 17% to €4.98 billion, from €4.25 billion last
year, helped by new cloud subscriptions.
SAP Chief Executive Bill McDermott has over the past year
accelerated the company's move away from on-premise software to
Internet cloud based offerings through a series of acquisitions.
The company last year purchased for $8.2 billion U.S.-based Concur
Technologies, a cloud expense management software provider, making
SAP the second-largest enterprise cloud-service provider by revenue
behind Salesforce.com Inc.
SAP is slated to report full results for the third quarter on
Oct. 20.
Write to Christopher Alessi at christopher.alessi@wsj.com
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(END) Dow Jones Newswires
October 12, 2015 22:15 ET (02:15 GMT)
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