SAP Expected to Report Steady Cloud Business Growth
Dow Jones
Yesterday
0901 GMT - SAP should report steady growth for its core cloud business when the German business-software group posts third-quarter results on Oct. 21, Citi analysts write in a research note. They estimate growth of 25% for SAP's current cloud backlog--a closely watched measure of sales the group expects over the coming year based on existing contracts. Their projection is above consensus of roughly 24.5%. The analysts forecast cloud revenue growth of about 24% and say that SAP management could guide for annual growth in the upper half of the 23% to 25% guidance range. SAP shares trade 0.2% higher at 194.84 euros.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.