-=SAP SE (SAP) reported earnings on Tue 24 Apr 2018 (b/o)

SAP SE reports EPS in-line, revs in-line; raises FY18 revs above consensus 

• Reports Q1 (Mar) earnings of 0.73 per share, in-line with the Capital IQ Consensus of 0.73; revenues fell 0.5% year/year to 5.26 bln vs the 5.3 bln Capital IQ Consensus.

Business Outlook 2018

• Co issues upside guidance for FY18, sees FY18 revs of 24.8-25.3 bln vs. 24.3 bln Capital IQ Consensus Estimate.
• SAP is raising its outlook to reflect the closing of the Callidus acquisition on April 5, 2018 as well as the strong operating profit performance in the first quarter. For the full year 2018, the Company now expects:
  • Non-IFRS cloud subscriptions and support revenue to be in a range of 4.95 billion - 5.15 billion at constant currencies (2017: 3.77 billion), up 31% -- 36.5% at constant currencies. The previous range was 4.8 - 5.0 billion. Callidus is expected to contribute approximately 150 million.
  • Non-IFRS cloud and software revenue to be in a range of 20.85 -- 21.25 billion at constant currencies (2017: 19.55 billion), up 6.5% -- 8.5% at constant currencies. The previous range was 20.7 -- 21.1 billion. Callidus is expected to contribute approximately 150 million.
  • Non-IFRS operating profit to be in a range of 7.35 billion - 7.50 billion at constant currencies (2017: 6.77 billion), up 8.5% -- 11% at constant currencies. The previous range was 7.3 -- 7.5 billion. Callidus is expected to contribute approximately 10 million.