TELETRADER News
7/18, 7:14 AM (Source: TeleTrader)
more TeleTrader news

SAP-0.91%

108.86
Chart for: SAP SE O.N.

SAP posts EPS of €0.48, misses expectations

SAP said on Thursday that its IFRS revenue in the second quarter was €6.6 billion, increasing from the same period last year by 11%, but missing expectations. Earnings per share fell to €0.48 from €0.60 a year ago and the tech company's operating profit came fell 21% year-on-year to €827 million. Non-IFRS operating profit was up by 11% to €1.8 billion.

SAP pointed out that its cloud revenue surged by 40% to €1.7 billion. The company said it expects a further rise in revenues from this segment throughout the year.

CEO Luka Mucic said: "I am pleased that our operational excellence measures are already showing effect. Our non-IFRS operating profit and margin performance is remarkable considering the margin headwinds from our latest acquisition and the recent short-term trade-related uncertainty in Asia that impacted our software revenue performance in the region. With continued strong customer demand and our tight focus on profitability we remain as confident in our 2019 outlook as we are in our mid-term ambition."

Breaking the News / VP