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4/24, 7:18 AM (Source: TeleTrader)
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SAP posts revenue of €6.1B in Q1, up by 16%

German software company SAP SE said on Wednesday that its total revenue in the first three months of 2019 jumped 16% to stand at €6.09 billion. At the same time, cloud revenue surged 45% to amount to a record €1.55 billion, according to the earnings release.

Cloud and software revenue grew 16% year over year to €5.04 billion, the company noted. Operating profit, however, was €136 million in the negative, due to the "expected cost of SAP’s 2019 restructuring (€886 million) as well as higher acquisition-related charges and share-based compensation." On a non-IFRS basis, operating profit was up by 19% to arrive at €1.47 billion.

"SAP’s results are another illustration that we are a rarity in the enterprise applications software industry. We have a strong core business, the fastest growing cloud at scale in enterprise software and impressive non-IFRS operating profit growth. We are focused on leading a best-run SAP so we can drive significant margin expansion in the quarters ahead," said company's CEO, Bill McDermott.

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