SAP profit falls 23% on litigation costs

SAP SE raised its full-year revenue outlook for cloud applications, but the German business software maker’s second-quarter profit fell due to provisions from patent litigation.

SAP now sees full-year revenue for cloud subscriptions and support of 1.00 billion to 1.05 billion euros ($1.35 billion to $1.42 billion), up from an earlier expectation for EUR950 million to EUR1 billion. The improvement is due in large part due to the recent acquisition of Fieldglass, a maker of workforce-management software.

 Reference:  SAP profit falls 23% on litigation costs