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SAP beats analysts’ expectations, reports “record-setting” revenue and profit

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SAP reports record earnings
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TechCrunch reports “German IT services and enterprise giant SAP reported encouraging numbers for Q2 2016, beating analysts’ expectations and spiking its share price by nearly five percent in pre-market trading Wednesday as its non-IFRS EPS increased 2 percent to €0.82 ($0.90).Analysts had predicted a quarterly EPS of $0.78.

The leap is owed in part to the strength of the company’s increasing cloud and software business, for which it reported revenue of (IFRS) €4,359 million ($4,800 million), a 7 percent jump over the year-ago quarter’s figure. Following the news, CEO Bill McDermott enthusiastically reiterated SAP’s guidance for 2016.” Read More

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