SAP Sap SE

   By Mauro Orru 
 

SAP (SAP.XE) said Tuesday that net profit and revenue for the fourth quarter of 2019 increased on year, and it upwardly revised guidance for 2020.

The German software company reported net profit of 2.18 billion euros ($2.4 billion) on a non-IFRS basis in the fourth quarter compared with EUR1.79 billion a year earlier. Operating profit for the period was EUR2.84 billion on a non-IFRS basis, beating Vara Research estimates of EUR2.83 billion.

Revenue was EUR8.05 billion on a non-IFRS basis, up from EUR7.43 billion a year earlier, with cloud and software contributing EUR6.86 billion on a non-IFRS basis, against Vara Research estimates of EUR6.92 billion.

SAP said it now expects 2020 revenue on a non-IFRS basis of between EUR29.2 billion and EUR29.7 billion at constant currencies, up from previous guidance of EUR28.6 billion and EUR29.2 billion. It also sees 2020 operating profit on a non-IFRS basis of between EUR8.9 billion and EUR9.3 billion at constant currencies, up from previous guidance of between EUR8.8 billion and EUR9.1 billion.

Write to at mauro.orru@wsj.com

(END) Dow Jones Newswires

January 28, 2020 01:45 ET (06:45 GMT)

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