BERLIN (Reuters) – Business software maker SAP reported faster than expected revenue growth for the third quarter, though its profit declined due to lower contribution from software licenses revenue as well as investments in growth.
Total revenue grew by 5% in currency-adjusted terms to 7.84 billion euros, SAP said on Tuesday, beating analyst consensus for a jump to 7.62 billion.
Non-IFRS operating profit came to 2.09 billion euros ($2.07 billion) in the three months through September, an 8% drop at constant currencies. Earnings per share of 1.12 euros fell short of consensus for 1.25 euros.
SAP stuck with a forecast for full-year operating profit to come to 7.6 billion to 7.9 billion euros, which it had cut from 7.8 billion-8.25 billion in July.
($1 = 1.0124 euros)
(This story has been corrected in the headline and the first three paragraphs to include correct consensus figures. The previously used Refinitiv consensus figures were for Q4, not Q3.)
(Reporting by Maria Sheahan, Editing by Miranda Murray)