SAP Rising: Bull, Bear Cheer Q3 Progress in Cloud, Hana
Shares of enterprise vendor SAP AG (SAP) are up $2.50, or 3.4%, at $76.25, after the company this morning reported Q3 revenue in line with analysts’ estimates and profit that topped consensus.
Revenue in the three months ending in September rose 2%, year over year, to €4.05 billion, yielding EPS of €0.78, excluding some costs.
Analysts had been modeling €4.08 billion and €0.77 per share.
SAP noted that its revenue from cloud computing software and subscriptions, combined, rose 7%, and co-CEOs Jim Hagemann Snabe and Bill McDermott remarked that “We now are the second largest enterprise cloud company with an annual cloud revenue run rate exceeding €1 billion.”
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