SAP : Q3 2021 2% above expectations but still limited guidance increase
>Q3 slightly better than expected but outlook for Q4 still looks weak - SAP released overnight its preliminary Q3 2021 earnings with non-IFRS revenue up 5% at cc, 2% above expectations mainly thanks to a less pronounced decline in licence sales. Operating profit was also 2% above expectations (excluding capital gains), giving an operating margin just in line with expectations, at 29.6%, down -210bp y-o-y despite better licenses. Non-IFRS EPS was 34% above expectations...SAP is engaged in selling licenses for software solutions and related support services. Co. derives its revenue from fees charged to its customers for the use of its cloud solutions and for licensing of on-premise software products and solutions. Additional sources of revenue are support, professional services, development, training, and other services. Co. has more than 300,000 customers in over 180 countries. Co.'s SAP HANA platform holds the ability to simplify both the user experience and the overall IT landscape, creating a smaller data footprint, increased system throughput, and easier data processing and operation.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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