SAP first-quarter profit after tax rises 9 percent, keeps 2016 outlook
Reuters
Published Apr 20, 2016 06:14
SAP first-quarter profit after tax rises 9 percent, keeps 2016 outlook
FRANKFURT (Reuters) - Europe's largest software company SAP (DE:SAPG) said on Wednesday first-quarter profit after tax rose 9 percent to 763 million euros (604 million pounds) and reiterated its full-year outlook, citing a strong order pipeline across its portfolio.
SAP earlier this month said first-quarter results would be weaker than expected due to slower sales of software licences to corporate customers, particularly in Brazil and the United States.
It also reiterated on Wednesday that it expects 2016 operating profit, excluding special items, to range between 6.4 billion and 6.7 billion euros at constant currencies. That represents roughly flat growth to an increase of 6 percent.
SAP said it expected a currency benefit of up to 2 percentage points in the second quarter for its revenue and operating profit growth if exchange rates would remain at March 2016 levels.
For the full year, SAP expects a positive effect of between 1-3 percentage points.
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Written By: Reuters
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