SAP SE climbed in late US trading after Europe’s biggest software company reaffirmed its annual forecast and pointed to the “resilience” of its business.
(Bloomberg) — SAP SE climbed in late US trading after Europe’s biggest software company reaffirmed its annual forecast and pointed to the “resilience” of its business.
Excluding some items, sales will be €8.65 billion to €8.95 billion this year, reiterating a prior projection, the company said in a statement Wednesday. That compares with an average analyst estimate of €8.55 billion.
US-traded shares of the Walldorf, Germany-based company climbed about 3% in extended trading after the report was released.
Chief Financial Officer Dominik Asam said the latest results “demonstrate strong execution and the resilience of our business, including sustained cloud growth in spite of persisting macro headwinds.”
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