SAP's EPS rises 26% to €1.32 in Q3

Monday, 26. October 2020 06:53

SAP announced on Monday its earnings per share (EPS) increased by 26% year on year to €1.32 in the third quarter. The increase comes as cloud revenue rose 11% in the same period to €1.9 billion. However, total revenue declined by 4% compared to the same quarter in 2019 as it amounted to €6.5 billion.

The company added its profit after tax came in at €1.6 billion, increasing 31% from the third quarter last year. However, operating profit was down 12% year on year to €1.4 billion in the three-month period ended September 30.

"COVID-19 has created an inflection point for our customers. The move to the cloud combined with a true business transformation has become a must for enterprises, to gain resiliency and position them to emerge stronger out of the crisis. Together with our customers and partners we will co-innovate and reinvent how businesses run in a digital world. SAP will accelerate growth in the cloud to more than €22 billion in 2025 and expand the share of more predictable revenue to approximately 85%," CEO Christian Klein said.

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Author:
Breaking the News / VP