(Updated - October 21, 2016 6:41 AM EDT)

SAP AG (NYSE: SAP) reported Q3 EPS of €0.91, €0.17 worse than the analyst estimate of €1.08. Revenue for the quarter came in at €5.38 billion versus the consensus estimate of €5.83 billion.

Q3 adjusted operating profit rose 1% to €1.64 billion, versus the consensus of €1.65B.

Business Outlook 2016

The Company is raising its outlook for the full year 2016:

• The Company now expects full year 2016 non-IFRS cloud subscriptions and support revenue to be in a range of €3.00 - €3.05 billion at constant currencies (2015: €2.30 billion). The upper end of this range represents a growth rate of 33% at constant currencies.
• The Company now expects full year 2016 non-IFRS cloud and software revenue to increase by 6.5% - 8.5% at constant currencies (2015: €17.23 billion).
• The Company now expects full-year 2016 non-IFRS operating profit to be in a range of €6.5 billion - €6.7 billion at constant currencies (2015: €6.35 billion).

While the Company's full-year 2016 business outlook is at constant currencies, actual currency reported figures are expected to continue to be impacted by exchange rate fluctuations. If exchange rates remain at the end of September 2016 levels for the rest of the year, the Company expects its non-IFRS cloud and software revenue growth rate to experience a currency impact in a range of -3 to -1 percentage points for the fourth quarter and the full year 2016 and its non-IFRS operating profit growth rate to experience a currency impact in a range of -2 to 0 percentage points for the fourth quarter and the full year 2016.

For earnings history and earnings-related data on SAP AG (SAP) click here.