SAP Q2 operating profit beats expectations on licence growth with Reuters
SAP's Q2 profits beat expectations

The chief executive of Europe's largest software company, SAP, told CNBC on Wednesday that the recent financial market upset on the back of the U.K.'s decision to leave the European Union had not affected his company's earnings or outlook.

"Yes we were aware of the Brexit but no, there was no impact from it. This follows history - when there was the Greek debt crisis or the China growth crisis, the global footprint of SAP and our solutions to help customers seemed to be in the mix of growth because they need our software to navigate through these choppy waters. So it makes SAP a very resilient asset in the software industry, Bill McDermott told CNBC.

SAP reported better then expected quarterly operating profit on Wednesday, helped by a rise in software licenses, especially in Europe.

Second-quarter operating profit, excluding special items, rose 9 percent to 1.52 billion euros ($1.67 billion), beating average analysts' expectations of 1.45 billion euros in a Reuters poll.

McDermott said it had been an "interesting quarter."

"We've had a trifecta of software revenue growth, cloud revenue growth and operating income all in double digits which is clearly like no other company in our industry," Bill McDermott said on Wednesday.

Krisztian Bocsi | Bloomberg | Getty Images

SAP said it still expected full-year operating profit to come to between 6.4 billion and 6.7 billion euros. Shares of SAP were up 2.1 percent Wednesday morning.

"We strongly reiterated our guidance today," McDermott added. "We run our business on real time on Hana (its business data management software) so we have enormous visibility in our pipelines and keep in mind we're in 193 countries around the world and we got to market in 25 distinctly different industries which massively diversifies our opportunities as well as our risks."

"So when we reiterate guidance we do sit not only on the results today but also on the robust pipeline that we have in the future so we are in very good shape."

Analysts polled by Reuters forecast a 2016 profit of 6.61 billion euros, with individual estimates of 18 analysts ranging from 6.42 billion to 7.05 billion euros.

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Reuters contributed reporting to this story

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