SAP SE (SAP) Misses Q1 EPS by 77c

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Go back to SAP SE (SAP) Misses Q1 EPS by 77c

SAP SE (SAP) outlook cut, but shares rise on strong cloud revenue growth

April 21, 2023 7:56 AM EDT

Software company SAP SE (NYSE: SAP) is trading over 1% higher premarket Friday, despite the company slashing its outlook to account for the divestment of its subsidiary Qualtrics and missing profit expectations for the first quarter.

SAP shares initially fell following the announcement but have since regained those losses and more.

The company reported Q1 EPS of EUR0.35, EUR0.77 worse than the analyst estimate of EUR1.12. However, revenue for the quarter... More