SAP Q1 Earnings Improve Y/Y, Cloud Strength Drives Top Line
Zacks Investment Research | Apr 23, 2019 10:21PM ET
SAP SE (DE:SAPG) (NYSE:SAP) reported first-quarter 2019 non-IFRS earnings of €0.90 (approximately $1.02) per share, which surged 23.3% from the year-ago figure. The Zacks Consensus Estimate was pegged at 94 cents.
On IFRS basis, the company reported loss of €0.10 (loss of 11 cents) per share compared with year ago earnings of €0.59.
Total revenues, on non-IFRS basis, came in at €6.118 billion (around $6.947 billion), up 16.3% year over year (up 12% at constant currency). The Zacks Consensus Estimate was pegged at $6.744 billion.
On IFRS basis, revenues were €6.091 billion (almost $6.916 billion), up 15.8% year over year.
New cloud bookings — a key indicator of sales success in cloud business — surged 32.2% (26% at cc) to €324 million.
Stock Performance
Shares of SAP are up approximately 9% in the pre-market. This can primarily be attributed to optimism regarding raised guidance for operating profit in 2019 outlook. Moreover, per Zacks Investment Research
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