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SAP Q2 Profit Rises; Confirms 2020 Outlook - Quick Facts

SAP (SAP) reported that its second quarter profit after tax rose to 885 million euros from 582 million euros in the prior year. Basic earnings per share were 0.73 euros, compared to 0.48 euros in the previous year.

On a non-IFRS basis, basic earnings per share was 1.17 euros, compared to 1.09 euros in the prior year.

Quarterly total revenue grew to 6.74 billion euros from 6.63 billion euros in the previous year.

The company confirmed its 2020 revenue and profit outlook. The company still expects non-IFRS operating profit to be in a range of 8.1 billion euros to 8.7 billion euros at constant currencies, down 1% to up 6% at constant currencies.

The company still projects annual non-IFRS total revenue to be in a range of 27.8 billion euros to 28.5 billion billion euros at constant currencies, up 1% to 3% at constant currencies.

Non-IFRS cloud revenue is still expected to be in a range of 8.3 billion euros to 8.7 billion euros at constant currencies , up 18% to 24% at constant currencies.

SAP confirmed its 2023 ambition.The company also expects to hold a virtual Capital Markets Day in the fourth quarter 2020 to provide an update on its mid-term strategy.

SAP said Sunday that it plans to take its experience management software company Qualtrics public through an initial public offering in the United State.

SAP said it currently owns 100% of Qualtrics shares. SAP will retain majority ownership of Qualtrics and has no intention of spinning off or otherwise divesting its majority ownership interest.

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