SAP reported a good set of results over the first quarter. Revenues and operating profit grew under non-IFRS standards, while the latter declined in IFRS mainly due to restructuring costs (€886m) and high share-based compensation (€517m). Further details will be disclosed at the second CMD announced for 12 November, with a focus on margins and operating leverage initiatives. We confirm our positive view on the stock, though it is not yet a strong buy.
24 Apr 2019
Good start to the year, brighter outlook
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Good start to the year, brighter outlook
SAP SE (SAP:WBO) | 0 0 0.2% | Mkt Cap: 103,244m
- Published:
24 Apr 2019 -
Author:
Luis Pereira -
Pages:
3
SAP reported a good set of results over the first quarter. Revenues and operating profit grew under non-IFRS standards, while the latter declined in IFRS mainly due to restructuring costs (€886m) and high share-based compensation (€517m). Further details will be disclosed at the second CMD announced for 12 November, with a focus on margins and operating leverage initiatives. We confirm our positive view on the stock, though it is not yet a strong buy.