Investing.com — SAP on Monday reported fiscal second-quarter results that beat Wall Street estimates as continued demand for its cloud services boosted performance.
SAP SE ADR (NYSE:) rose nearly 4% in after-hours trading following the results.
For the three months ended June 30, SAP posted adjusted earnings of €1.10 per share on revenue of €8.29 billion, versus estimates of €1.09 on revenue of €8.26 billion.
Software and cloud revenues rose 10% to €7.17 billion in the second quarter year-on-year and the software maker continues to win new business, adding to its existing portfolio.
The current portfolio of cloud projects increased by 28% to €14.8 billion.
Looking ahead, the technology company reiterated its full-year outlook, forecasting adjusted operating profit of between €7.6 billion and €7.9 billion on cloud revenue in a range of €17.0 billion to €17.3 billion.
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