SAP posts revenue of €6.79B in Q3, up 13% YoY

Monday, 21. October 2019 07:05

SAP said on Monday that its IFRS revenue in the third quarter was €6.79 billion, increasing from the same period last year by 13% and topping market estimates.

Earnings per share soared 28% €1.04 year on year and the software company's operating profit came surged 36% to €1.68 billion. IFRS profit after tax grew by 30% to €1.26 billion in the three-month period. SAP pointed out that its cloud revenue rose 37% to €1.79 billion.

"Our third-quarter results reflect the momentum we've built entering the final quarter of the year and more broadly where we are on our journey of growth and operational excellence. We are excited and energized to write the next chapter in SAP's story alongside the best workforce anywhere in the technology industry," co-CEOs Jennifer Morgan and Christian Klein stated. SAP added that formed a three-year partnership with Microsoft "to move on-premise SAP ERP and S/4HANA customers to the cloud" through cloud-delivered services on Microsoft Azure.

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Breaking the News / NP