By Mauro Orru

SAP SE said Thursday that operating profit and revenue rose in the third quarter as its cloud business continued to grow, confirming preliminary figures it announced earlier this month.

Reporting on a non-IFRS basis, the German software company said operating profit rose to 2.10 billion euros ($2.45 billion) from EUR2.07 billion last year, with its operating margin down to 30.7% from 31.7%.

Net profit rose to EUR2.05 billion from EUR2.00 billion.

Total revenue climbed to EUR6.85 billion from EUR6.54 billion, with cloud revenue up to EUR2.39 billion from EUR1.98 billion.

SAP backed its 2021 targets, which it raised for the third time this year earlier this month.

The company expects non-IFRS operating profit at constant currencies between EUR8.1 billion and EUR8.3 billion, and non-IFRS cloud revenue at constant currencies between EUR9.4 billion and EUR9.6 billion.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

October 21, 2021 01:25 ET (05:25 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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