SAP Stock Climbs After Mixed Q3 Results: EPS Beat, Revenues Miss
Portfolio Pulse from Erica Kollmann
SAP SE reported mixed Q3 results with an EPS beat but a slight revenue miss. Despite this, SAP shares rose due to strong cloud growth and an optimistic 2024 outlook.
October 21, 2024 | 8:39 pm
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SAP reported Q3 earnings with an EPS beat and a slight revenue miss. Strong cloud growth and a raised 2024 outlook led to a 3.95% increase in share price after-hours.
SAP's Q3 results showed an EPS beat, which is positive for investors, despite a slight revenue miss. The strong growth in cloud services and the raised 2024 outlook are likely driving the positive market reaction, as evidenced by the 3.95% increase in share price after-hours.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100