Software firm surges as it reaps benefit of weak euro

German business software maker SAP SE became the latest European company to say it is benefitting more than anticipated from the euro’s slide.

Software firm surges as it reaps benefit of weak euro

Sales and operating profit this year will rise more than the company forecast just two months ago, SAP said in a regulatory filing yesterday, underscoring how a gain in the US dollar against the euro since the end of last year helps SAP when it converts overseas revenue to its home currency.

Revenue from software licences and cloud computing subscriptions this year will reap a currency benefit of about 11 percentage points if exchange rates remain at their March 6 levels, while operating profit will get a 14 percentage-point boost, Walldorf-based SAP said.

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