SAP, Europe's largest tech company, reported a 26% rise in cloud backlog and surpassed UBS's forecast, with full-year cloud and software revenue expected to reach the upper end of its outlook ranges, and non-IFRS operating profit rising 18% to €3.03 billion. SAP's cloud revenue increased by 26% in the third quarter and its yearly operating profit outlook remains at €11.8 billion to €12.2 billion.
Key points
SAP's cloud revenue is expected to reach the upper end of its outlook ranges.: SAP's cloud revenue is expected to reach the upper end of its outlook ranges.
SAP's non-IFRS operating profit is expected to rise 18%.: SAP's non-IFRS operating profit is expected to rise 18%.
SAP's yearly operating profit outlook remains at €11.8 billion to €12.2 billion.: SAP's yearly operating profit outlook remains at €11.8 billion to €12.2 billion.
Sources checked by our analysis pipeline: 1
Oct 21 : Europe's largest tech company SAP on Wednesday reported a 26 per cent rise in current cloud backlog at constant currencies to €24.14 billion ($27.11 billion), ahead of the 24-25 per cent growth UBS had forecast, and said full-year cloud and cloud and software revenue would come in at the upper end of its outlook ranges.
Cloud revenue rose 26 per cent to €6.67 billion in the third quarter and non-IFRS operating profit rose 18 per cent to €3.03 billion. SAP kept its yearly operating profit outlook of €11.8 billion to €12.2 billion at constant currencies.
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