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SAP's New Activist Investor Appears to Have Done Its Homework -- Tech Check

Eric Jhonsa

rose more than 12% Wednesday after beating Q1 estimates (revenue rose 12% annually in constant currency, thanks in part to acquisitions) and hiking its 2019 and 2020 operating profit guidance. The company lowered its full-year, euro-based, revenue guidance due to currency swings, but maintained constant currency revenue guidance for its cloud and traditional software businesses. Notably, SAP also set a goal of growing its non-IFRS operating margin, which was at 29% last year, by an average of 1% per year over the next five years.