SAP Shares Gained 3% in Premarket Trading

Tiger Newspress2022-10-25

SAP shares gained 3% in premarket trading after the software maker's Q3 results beat expectations.

Business software maker SAP reported faster than expected revenue growth for the third quarter, though its profit declined due to lower contribution from software licenses revenue as well as investments in growth.

Total revenue grew by 5% in currency-adjusted terms to 7.84 billion euros, SAP said on Tuesday, beating analyst consensus for a jump to 7.62 billion.

Non-IFRS operating profit came to 2.09 billion euros ($2.07 billion) in the three months through September, an 8% drop at constant currencies. Earnings per share of 1.12 euros fell short of consensus for 1.25 euros.

SAP stuck with a forecast for full-year operating profit to come to 7.6 billion to 7.9 billion euros, which it had cut from 7.8 billion-8.25 billion in July.

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Kenina
2022-10-25
Kenina
future is bright!

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