SAP: 2017 outlook raised, but cloud worries persist.
(CercleFinance.com) - German business software maker SAP raised its outlook for 2017 on Thursday, based on the increasing adoption of its digital platform S/4Hana.
The company said it now expects revenue to be in a range of 23.4 billion to 23.8 billion euros at constant currencies this year - up from 23.3 billion to 23.7 billion euros previously.
"Guidance has been marginally raised given the increasing adoption of S/4Hana, but SAP has still to reassure on cloud," said analysts at Bryan Garnier.
Cloud and software revenue increased by 5% in the third-quarter, up 8% at constant currencies.
After these numbers, SAP shares were down 2.4% at 93 euros this morning, the worst performer in the STOXX Europe 600 Optimised Technology index, which was down just 0.5%. The stock has risen over 12% year-to-date.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The company said it now expects revenue to be in a range of 23.4 billion to 23.8 billion euros at constant currencies this year - up from 23.3 billion to 23.7 billion euros previously.
"Guidance has been marginally raised given the increasing adoption of S/4Hana, but SAP has still to reassure on cloud," said analysts at Bryan Garnier.
Cloud and software revenue increased by 5% in the third-quarter, up 8% at constant currencies.
After these numbers, SAP shares were down 2.4% at 93 euros this morning, the worst performer in the STOXX Europe 600 Optimised Technology index, which was down just 0.5%. The stock has risen over 12% year-to-date.
Copyright (c) 2017 CercleFinance.com. All rights reserved.