SAP Second-Quarter Earnings Tempered by Cloud Demand
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SAP SE reported rising revenue as businesses snapped up new versions of its software delivered online, a trend that’s also weighing on its profit margins.
Sales rose 20 percent to 4.97 billion euros ($5.4 billion), boosted by the euro’s drop, Walldorf, Germany-based SAP said Tuesday. That topped the 4.91 billion-euro average estimate of analysts surveyed by Bloomberg. Operating-profit margin shrank to 28 percent, missing the 28.5 percent predicted by analysts.