Brexit Had no Impact on SAP Business, Says McDermott

SAP SE reported results that topped analysts’ estimates as the company put a weak start to the year behind it and closed more software deals despite political turmoil in Europe. Operating profit for the second quarter was 1.52 billion euros ($1.67 billion), exceeding the 1.45 billion-euro average of analysts’ estimates collected by Bloomberg. Sales were 5.24 billion euros, compared with the average 5.22 billion-euro estimate. “Despite widespread concerns SAP experienced no effects from the Brexit vote,” CEO Bill McDermott says in conference call, adding that co. had an “extraordinary” 2Q. He discusses business performance with "On the Move" hosts Guy Johnson in London and Caroline Hyde in Berlin. McDermott earlier this year said he is "fully recovered" from an accident that led to him losing an eye in 2015.

WPP CEO Says Brexit Uncertainty Is Difficult for Business
43:30 - Former Bank of England Governor Mervyn King and Sir Martin Sorrell, chief executive officer at WPP Plc, discuss the Brexit endgame and how U.K. businesses are being impacted by negotiations. They speak with Bloomberg's Francine Lacqua on "Bloomberg Surveillance." (Source: Bloomberg)
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