SAP Raises 2018 Guidance Again on Strong Cloud Growth
October 18 2018 - 1:35AM
Dow Jones News
By Nathan Allen
SAP SE (SAP.XE) raised its 2018 guidance for the third
consecutive quarter on Thursday, after posting solid growth in its
cloud business.
Net profit for the July-September period dropped slightly to 973
million euros ($1.12 billion) compared with EUR983 million a year
earlier, the German software company said. However, on a non-IFRS
basis, operating profit rose 6.4% to EUR1.74 billion.
Revenue climbed 8% to EUR6.02 billion from EUR5.59 billion in
the same period, SAP said.
Analysts had expected net income of EUR1.03 billion on revenue
of EUR6.02 billion, according to a FactSet-compiled consensus.
SAP's closely watched revenue from cloud subscriptions and
support rose 39% to EUR1.30 billion, leading the company to nudge
its full-year guidance upward again.
The group now expects 2018 non-IFRS revenue of between EUR25.20
billion and EUR25.50 billion, compared with a previous estimate of
EUR24.98 billion to EUR25.30 billion.
Non-IFRS operating profit for 2018 is expected to be between
EUR7.43 billion and EUR7.53 billion, compared with an earlier
estimate of between EUR7.40 billion and EUR7.50 billion.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 18, 2018 01:20 ET (05:20 GMT)
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