SAP Operating Income Rises 5%

FRANKFURT—German business software provider SAP SE posted a 5% increase in operating profit for the third quarter, boosted by increased adoption of its cloud products.

Operating profit for the period ended Sept. 30 was €1.21 billion ($1.4 billion), compared with €1.16 billion during the same period last year.

The company also provided an operating profit figure of €1.62 billion, based on calculations that aren't recognized under international financial reporting standards. That showed an increase of 15% at constant currencies, beating analysts expectations of a non-IFRS operating profit of €1.5 billion for the quarter, according to a recent poll conducted by The Wall Street Journal.

Revenue rose by 17% to €4.98 billion, from €4.25 billion last year, helped by new cloud subscriptions.

SAP Chief Executive Bill McDermott has over the past year accelerated the company's move away from on-premise software to Internet cloud based offerings through a series of acquisitions. The company last year purchased for $8.2 billion U.S.-based Concur Technologies, a cloud expense management software provider, making SAP the second-largest enterprise cloud-service provider by revenue behind Salesforce.com Inc.

SAP is slated to report full results for the third quarter on Oct. 20.

Write to Christopher Alessi at [e-mail]

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(END) Dow Jones Newswires

October 12, 2015 22:15 ET (02:15 GMT)

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