SAP Sales Miss Estimates as Some Deals Slip to Next Quarter
- Cloud subscription and support revenue increase 33 percent
- Company reiterates operating profit forecast for 2016
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SAP SE reported sales that missed analysts’ estimates as some deals in the Americas region were signed later than expected, though the software maker reiterated its forecast for the year.
Revenue rose 5.1 percent to 4.73 billion euros ($5.4 billion) in the first quarter, compared with analysts’ average estimate of 4.82 billion euros, according to data compiled by Bloomberg. Operating profit was 1.1 billion euros, Walldorf, Germany-based SAP said in a statement, compared with analysts’ estimate of 1.15 billion.