BERLIN (Reuters) – SAP’s revenue grew faster than expected in the third quarter, but its profit went down because less money came in from software licenses and because the company spent more money on growth.
SAP said on Tuesday that its total revenue grew by 5% when the value of the euro was taken into account. This was better than what analysts expected, which was a rise to 7.62 billion euros.
In the three months leading up to September, the non-IFRS operating profit was 2.09 billion euros ($2.07 billion), which is an 8% drop in constant currencies. Earnings per share of 1.12 euros were less than what most people expected, which was 1.25 euros.
SAP stuck to its prediction that its operating profit for the whole year would be between 7.6 billion and 7.9 billion euros. In July, it had lowered this estimate from 7.8 billion to 8.25 billion euros.
($1 = 1.0124 euros)
(The headline and the first three paragraphs of this story have been changed to reflect the correct consensus numbers. The Refinitiv consensus numbers that had been used before were for Q4, not Q3.)
