SAP Q2 results top estimates as ongoing cloud demand boosts revenue

Investing.com — SAP reported Monday fiscal second-quarter results that topped Wall Street estimates as ongoing demand for its cloud services bolstered performance.  

SAP SE ADR (NYSE:) rose nearly 4% in aftermarket hours trading following the news.

For the three months ended Jun. 30, SAP adjusted earnings of €1.10 per share on revenue of €8.29B, compared with estimates for €1.09 on revenue of €8.26B.

Cloud and software revenue jumped 10% to €7.17B in Q2 year on year and the software maker continues to win new business, boosting its current backlog.   

Current cloud backlog jumped to 28% to €14.8B.

Looking ahead, the tech company reiterated its outlook for the full-year, forecasting adjusted operating profit between €7.6B and €7.9B on cloud revenue in a range of €17.0B to €17.3B.