SAP: leaps ahead with results, DG Bill McDermott is leaving

SAP announced tonight the departure of its chief executive, Bill McDermott, and better preliminary results than expected for the third quarter. The action of the publisher of professional software took the head of the Dax with a gain of 7.15% 12.44 euros. Bill McDermott, who has been in this role since 2014, will be replaced by two co-CEOs, Jennifer Morgan, currently responsible for cloud activity and Christian Klein, currently operations director. These changes occur with immediate effect. Bill McDermott will continue to advise until the end of the year to ensure a smooth transition.

In the third quarter, the operating result, excluding exceptional items, increased by 20% 2.09 billion euros, above the consensus of 1.99 billion. It has increased by 15% constant exchange rates. SAP shows a margin improvement of 1.7 point 30.6%. The consensus is 29.8%.

SAP's total adjusted revenue increased by 13% to 6.81 billion against a consensus of 6.7 billion euros. It has progress of 10% constant exchange rate. Cloud revenues and services were up 37% (+ 33% at constant exchange rates) at 1.81 billion euros, but was ahead of the year at 1.816 billion euros.