SAP Shares Fall After Quarterly Cloud Sales Miss Estimates

• Cloud sales in constant currencies rose 22% to €3.3 billion
• Firm boosted operating profit forecast by €50 million

SAP SE shares fell in New York after second-quarter sales in its cloud unit missed analyst estimates.

Sales in constant currencies at the cloud unit, which is the company’s largest, rose 22% from a year earlier to €3.3 billion ($3.7 billion), the Walldorf, Germany-based company said in a statement Thursday. That compares with an average estimate of €3.41 billion by analysts in a Bloomberg survey.