SAP Q3 Revenue and Cloud Sales Beat Estimates; Operating Profit Narrowly Misses

SAP reported Q3 non-IFRS revenue of €10.27B, above the €10.12B estimate. Cloud revenue rose 26% to €6.67B, beating the €6.59B consensus. Operating profit of €2.93B narrowly missed the €2.94B forecast. The company now expects FY cloud revenue at the high end of its €25.8B–€26.2B range. Net income rose to €2.27B from €2.05B.