SAP: Q3 adjusted EPS up 14%, CEO quits
(CercleFinance.com) - The German software publisher SAP announces preliminary Q3 results, including a 14% increase in non-IFRS EPS, to 1.
30 euro.
Again in non-IFRS, and at constant exchange rates, the group's operating margin improved by 1.5 point to 30.4% for total revenues that are up 10% at 6.79 billion euros (including a 33% increase in cloud revenue).
"We have delivered a very strong result on the bottom line based on further ac-celeration of our operational excellence initiative and restructuring benefits," said outgoing CEO Bill McDermott, adding that SAP confirms its annual targets with confidence.
This comes alongside the announcement of the resignation of its CEO, Bill McDermott, who has decided to step down, with Jennifer Morgan and Christian Klein appointed as Co-CEOs, to replace him, effective immediately.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
30 euro.
Again in non-IFRS, and at constant exchange rates, the group's operating margin improved by 1.5 point to 30.4% for total revenues that are up 10% at 6.79 billion euros (including a 33% increase in cloud revenue).
"We have delivered a very strong result on the bottom line based on further ac-celeration of our operational excellence initiative and restructuring benefits," said outgoing CEO Bill McDermott, adding that SAP confirms its annual targets with confidence.
This comes alongside the announcement of the resignation of its CEO, Bill McDermott, who has decided to step down, with Jennifer Morgan and Christian Klein appointed as Co-CEOs, to replace him, effective immediately.
Copyright (c) 2019 CercleFinance.com. All rights reserved.