Software giant SAP reported mixed third-quarter results and warned of significant “currency headwinds.”
Overall revenues were behind expectations and in a sign that euro strength was negatively impacting the company, SAP warned that currency headwinds would hit fourth-quarter earnings growth.
At the same time, strong growth in cloud revenues helped the Germany-based company modestly exceed third-quarter earnings estimates.
SAP highlighted particular success with its S/4 Hana product suite as another 600 customers signed up to the business software.
Total revenue rose 4% over the third quarter year-on-year to €5.59bn, slightly behind estimates of €5.68bn.
Third-quarter adjusted profit after tax climbed to €1.21bn, up 11% from a year ago.