SAP (XTRA: SAP) 3Q19 Results: Beats Consensus with Strong Cloud Growth, Announced CEO Transition
- SAP reported adjusted 3Q19 revenues of €6.81 billion, up 12.9% year over year. Adjusted EPS was €1.30, up 14.3% and beating the €1.19 consensus estimate.
- Cloud drove growth in the quarter, with adjusted revenues growing 37%.
- SAP reiterated guidance for 2019 and 2020, and its 2023 goal (called “ambition”).