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:) shares rose about 4% in after-market trading following the news.
For the three months ended June 30, SAP’s adjusted earnings were 1.10 euros per share on revenue of 8.29 billion euros, compared with estimates of 1.09 euros on revenue of 8.26 billion euros.
Cloud and software revenue rose 10% to €7.17 billion in the second quarter year-on-year, and the software maker continues to win new business, boosting its existing backlog.
Current cloud backlog increased by 28% to €14.8 billion.
Looking ahead, the tech company confirmed its full-year outlook, expecting adjusted operating profit of €7.6 billion to €7.9 billion on cloud revenue in the range of €17.0 billion to €17.3 billion.