SAP SE Shares Up 5% Following Pre-Reported Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SAP'>SAP SE (NYSE:SAP) </a>shares were trading 5% higher on Wednesday following the company’s pre-reported solid Q3 results, with total revenue/cloud revenue, non-IFRS operating margins, and EPS beating Street estimates.</p>
<p>The company’s provided total revenue of €6.8 billion (up 5% year-over-year) came in better than the consensus estimate by around 170bps. Cloud revenue is €2.4 billion, growing 20% year-over-year and beating the Street estimate by around 130bps. </p>
<p>The company provided its full 2021-year guidance, increasing its cloud revenue estimate to the range of €9.4–9.6 billion. </p>
<p>According to the analysts at Oppenheimer, they are encouraged to see the acceleration of the current cloud backlog toward growth needed to obtain medium-term cloud targets (2025), and look forward to the company’s full results report on Oct 21 for more details.</p>

NYSE:SAP