Why SAP Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
SAP SE's Q3 FY23 financial results show a revenue growth of 4% Y/Y to €7.744 billion, with cloud revenue increasing 16% Y/Y to €3.472 billion. However, software licenses and support revenue declined 6% Y/Y to €3.208 billion. The company's non-IFRS operating profit rose 10% Y/Y to €2.28 billion, and non-IFRS EPS from continuing operations rose 32% Y/Y to €1.45. SAP's shares are up by around 5% following the announcement.
October 19, 2023 | 10:28 am
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POSITIVE IMPACT
SAP's Q3 FY23 results show strong revenue and cloud revenue growth, leading to a rise in its share price.
SAP's Q3 FY23 results exceeded expectations, particularly in terms of revenue and cloud revenue growth. This positive financial performance is likely to boost investor confidence, leading to an increase in SAP's share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100