SAP: meets expectations, stock up
(CercleFinance.com) - SAP met forecasts in its third quarter and reiterated its outlook for the full-year 2019, sending its shares up on Tuesday.
SAP's operating profit for the third quarter ended 30 September rose by 36% to 1.7 billion euros (IFRS) on total revenue that was up 13% at 6.8 billion euros.
Its operating margin increased 4.2 points year-on-year to 24.7%.
The German business software maker also reiterated its outlook for 2019.
"Despite continued macro uncertainties we couldn't be more confident to make 2019 another stellar year," it said.
SAP pointed out that it now expects non-IFRS operating profit to be between 7.85 billion and 8.05 billion euros, up 9.5%-12.5% at constant currencies.
SAP previously forecast 7.7 billion euros-8.0 billion euros, up 7.5%-11.5% at constant currencies.
The SAP share was up 1.3% in Frankfurt after these results.
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SAP's operating profit for the third quarter ended 30 September rose by 36% to 1.7 billion euros (IFRS) on total revenue that was up 13% at 6.8 billion euros.
Its operating margin increased 4.2 points year-on-year to 24.7%.
The German business software maker also reiterated its outlook for 2019.
"Despite continued macro uncertainties we couldn't be more confident to make 2019 another stellar year," it said.
SAP pointed out that it now expects non-IFRS operating profit to be between 7.85 billion and 8.05 billion euros, up 9.5%-12.5% at constant currencies.
SAP previously forecast 7.7 billion euros-8.0 billion euros, up 7.5%-11.5% at constant currencies.
The SAP share was up 1.3% in Frankfurt after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.