SAP: shares jump on strong results
(CercleFinance.com) - SAP shares jumped nearly 7% on Thursday after the German corporate software publisher reported "strong" results that topped expectations.
The Walldorf-based company said business activity gradually improved over the second quarter following the global onset of the Covid-19 crisis.
Software licenses revenue, although still below "normal" levels, recovered more than expected, the group said in a statement.
In the second quarter, cloud revenue grew 19% to 2.04 billion euros, while total revenue rose by 1% to 6.74 billion euros.
Over the last three months, operating profit rose by 8% to 1.96 billion euros.
SAP also reiterated that full-year operating profit is expected to be 8.1-8.7 billion euros at constant currencies.
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