SAP Stock Rises on Earnings Report
The German enterprise software giant SAP reported quarterly results that were a smidgen ahead of Wall Street’s expectations. For the March quarter, SAP reported total revenue of €8.04 billion, up 8% from a year ago or 9% adjusted for currency and a hair above the consensus estimate of €8.02 billion, as tracked by FactSet. Cloud revenue was €3.93 billion, up 24% or 25% on a currency-adjusted basis, about in line with estimates.