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Name | Symbol | Market | Type |
---|---|---|---|
SAP SE | NYSE:SAP | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.81 | 1.56% | 183.45 | 184.26 | 182.83 | 183.70 | 377,178 | 01:00:00 |
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 christopher.alessi@wsj.com
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(END) Dow Jones Newswires
October 12, 2015 22:15 ET (02:15 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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