SAP misses 3Q profit forecasts, raises outlook slightly

October 21, 2016

German business software company SAP SE on Friday reported third-quarter earnings of $814.6 million.

The company missed for , but increased its outlook for the year slightly after recording a 28 percent increase in revenue for its cloud computing business.

The Walldorf, Germany-based company said it had profit of 68 cents per share. Earnings, adjusted for stock option expense, were $1.02 per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The company posted revenue of $6 billion in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $5.9 billion.

The company raised its outlook for full-year 2016 operating earnings to 6.5 billion euros to 6.7 billion euros ($7.1 to $7.3 billion) from the earlier range of 6.4 billion euros to 6.7 billion euros ($7.0 billion to $7.3 billion).

SAP shares have risen 10 percent since the beginning of the year. The stock has increased 16 percent in the last 12 months.

Explore further: Netflix beats Street 3Q forecasts

Related Stories

Business software firm SAP sees rise in profit, sales

July 20, 2016

Business software maker SAP SE reported Wednesday that its second-quarter net income rose to 816 million euros ($900 million) from 469 million euros a year earlier as it expanded sales in all regions.

Recommended for you

EPA adviser is promoting harmful ideas, scientists say

March 22, 2019

The Trump administration's reliance on industry-funded environmental specialists is again coming under fire, this time by researchers who say that Louis Anthony "Tony" Cox Jr., who leads a key Environmental Protection Agency ...

Coffee-based colloids for direct solar absorption

March 22, 2019

Solar energy is one of the most promising resources to help reduce fossil fuel consumption and mitigate greenhouse gas emissions to power a sustainable future. Devices presently in use to convert solar energy into thermal ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.