SAP SE (SAP) outlook cut, but shares rise on strong cloud revenue growth
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Go back to SAP SE (SAP) outlook cut, but shares rise on strong cloud revenue growth
April 21, 2023 6:57 AM EDT
By Scott Kanowsky
Investing.com -- SAP cuts its outlook after the divestment of its Qualtrics unit, while the balance of European business activity tips towards services and Tesla shares drop sharply.
1. SAP lowers guidance
Shares in SAP (ETR: SAPG) slipped in early trading on Friday after the business software group slashed its annual profit guidance, following the divestment of its subsidiary Qualtrics.
The tech giant sees non-IFRS operating profit at a range of 8.6 billion to 8.9 billion in 2023, a decrease of 200 million from its previous outlook. Revenue... More
April 21, 2023 4:46 AM EDT
SAP SE (NYSE: SAP) reported Q1 EPS of EUR0.35, EUR0.77 worse than the analyst estimate of EUR1.12. Revenue for the quarter came in at EUR7.44 billion versus the consensus estimate of EUR8.15 billion.
For earnings history and earnings-related data on SAP SE (SAP) click here.
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