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SAP reiterates 2019 outlook as Q3 profit rises YOY

SAP SE announced a partnership with Microsoft Corp. for cloud migration offerings as the German software giant reiterated its outlook for full year 2019.

SAP said its non-IFRS profit attributed to shareholders totaled €1.55 billion, an increase from €1.36 billion in the year-earlier period.

Basic non-IFRS EPS came in at €1.30, in line with the S&P Global Market Intelligence consensus estimate for normalized EPS, compared to €1.14 per share in the year-ago period.

Total non-IFRS revenue grew 12.9% from the prior-year period to €6.81 billion, led by a 37% jump in revenue from cloud services, as software licenses revenue slipped 1%. Non-IFRS operating profit rose 19.7% year over year to €2.09 billion from €1.74 billion.

The company's IFRS profit attributed to shareholders rose 28.3% on an annual basis to €1.25 billion, or €1.04 per share, from €971.0 million, or 81 cents per share.

SAP maintained its operating profit guidance in the range of €7.85 billion and €8.05 billion at constant currencies for the full year. It also affirmed its non-IFRS cloud and software revenue expectations in the range of €22.40 billion and €22.70 billion for 2019.

Separately, SAP and Microsoft signed an agreement to accelerate customer adoption of SAP S/4HANA and SAP Cloud Platform on Microsoft Azure.