SAP Soars Most in Six Years After Profit Beats Estimates

SAP SE gained the most in six years after Europe’s most valuable company reported first-quarter profit that topped analysts’ estimates, fueled by its pivot to cloud services.

Adjusted operating income rose 58% in constant currencies to €2.5 billion ($2.9 billion), the Walldorf, Germany-based company said in a statement on Tuesday. That compares with an average estimate of €2.24 billion by analysts complied by Bloomberg.