SAP: raises 2018 guidance as cloud revenue accelerates
(CercleFinance.com) - Europe's biggest software company, Germany's SAP, has raised its full-year guidance to reflect the recent acquisition of Callidus and strong operational momentum after cloud revenue accelerated in the first quarter.
The corporate software maker said cloud revenue grew by 31% (non-IFRS at constant currencies) in the first three months of the year, exceeding the threshold of one billion euros for the first time in a quarter.
As a result, first-quarter operating profit rose by 14% (non-IFRS) to over 1 billion euros.
For the full year 2018, the company now expects non-IFRS operating profit to be in a range of 7.35 billion−7.50 billion euros at constant currencies, up by 8.5% to 11%.
Out of this result, Callidus is expected to contribute approximately 10 million euros, SAP said.
The group previously forecast between 7.3 billion and 7.5 billion euros.
The SAP stock was up 4% at 90.4 euros after the report in Frankfurt this morning. The share has risen by 8.8% over the past month, although has lost 3.3% since the beginning of the year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The corporate software maker said cloud revenue grew by 31% (non-IFRS at constant currencies) in the first three months of the year, exceeding the threshold of one billion euros for the first time in a quarter.
As a result, first-quarter operating profit rose by 14% (non-IFRS) to over 1 billion euros.
For the full year 2018, the company now expects non-IFRS operating profit to be in a range of 7.35 billion−7.50 billion euros at constant currencies, up by 8.5% to 11%.
Out of this result, Callidus is expected to contribute approximately 10 million euros, SAP said.
The group previously forecast between 7.3 billion and 7.5 billion euros.
The SAP stock was up 4% at 90.4 euros after the report in Frankfurt this morning. The share has risen by 8.8% over the past month, although has lost 3.3% since the beginning of the year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.