SAP’s Sales Again Top Estimates as Software Spending Grows
- German software maker reaffirms 2017 results forecasts
- Cloud computing software sales grew better-than-expected 34%
SAP Enjoyed Growth Across All Pillars, CFO Says
This article is for subscribers only.
SAP SE’s sales topped analysts’ estimates for the fourth straight quarter, as business software spending grew, though the costs of transitioning to a web-delivered model weighed on profitability.
First-quarter revenue rose 12 percent to 5.29 billion euros ($5.7 billion), SAP reported Tuesday, compared with the 5.16 billion-euro estimate of analysts surveyed by Bloomberg. Operating profit, excluding share-based compensation, amortization and other charges, was 1.2 billion euros, compared with the average estimate of 1.23 billion euros.