SAP Second-Quarter Net Profit Falls 18% to EUR668 Million

By Christopher AlessiFeaturesDow Jones Newswires

German business-software provider SAP SE (SAP.XE) reported an 18% drop in net profit for the second quarter, weighed down by restructuring and share-based compensation expenses, even as it announced a share buyback of up to 500 million euros ($575.8 million) for the year.

Net profit for the three months ended June was EUR668 million, compared with EUR813 million during same period the previous year.

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Revenue rose 10% to EUR5.78 billion ($6.66 billion), driven by growth in the cloud business.

The company raised its forecast for the full year, saying it now expects cloud-and-software revenue to grow 6.5%-8.5% and total revenue to be between EUR23.3 billion and EUR23.7 billion. The outlook is based on calculations not recognized under international financial reporting standards.

Write to Christopher Alessi at

(END) Dow Jones Newswires

July 20, 2017 01:32 ET (05:32 GMT)