SAP operating profit rises 55% to €1.3B in Q2

Monday, 27. July 2020 07:09

SAP SE announced on Monday that its IFRS operating profits jumped 55% year on year in the second quarter to €1.3 billion while revenue was up 2% to €6.7 billion compared to a year ago. Basic earnings per share increased by 54% €0.73 from the same three-month period in 2019 while profits after tax were up to €885 million, rising from €582 million in the quarter ended June 30 last year.

Cloud revenue was up 21% to €2 billion and the company stated it kept its 2020 full-year guidance as it expected demand to improve. SAP's operating margin increased by 6.6 percentage points to 19% while operating cash flow grew 41% year on year to €3.7 billion in the second quarter.

"More than ever, the pandemic has proven that digitalization is no longer an option but a must-have to withstand challenging times and to achieve desired business outcomes," CEO Christian Klein said.

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Baha Breaking News (BBN) / VP