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October 12, 2015

SAP beats Q3 estimates with cloud

News: Company is trying to boost its Internet-based sales.

By CBR Staff Writer

German software maker SAP reported a 19% rise in its third-quarter operating profit to €1.62bn.

The company’s Q3 results were triggered by sales of cloud-computing solutions and the rise in demand for its revamped financial management tools.

With the results, SAP managed to beat industry estimates which were estimated to be between €1.45bn to €1.59bn, according to Thomson Reuters data.

As per the International Financial Reporting Standards (IFRS), the software maker’s total revenue stood at €4.98bn, which is 17% up in year-on-year comparison.

The Non-IFRS total revenue was €4.99bn, which is also up by 17% from the €4.26bn it reported during the previous year.

The company expects its full year non-IFRS operating profit of €5.6bn to €5.9bn at constant currencies, which could mean that the company might have flat growth or a rise of 5% from €5.6bn last year.

SAP expects its full-year 2015 non-IFRS cloud subscriptions and support revenue to be around €1.95bn – €2.05bn at constant currencies, rising from €1.10bn it made last year.

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SAP’s software license sales has grown by 4% in constant currency to €1.02bn, which is considered to be important as presently sales of licensed programmes installed on customers’ servers are under pressure across the industries.

SAP is also reportedly trying to boost its Internet-based sales to combat fast-growing newer competitors like Workday and Amazon’s web software unit.

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