* Sees 2017 oper profit at 6.8-7.0 bln vs 6.7-7.0 previously
* Q4 oper. profit at light side of analyst estimates
* Growth in Germany offsets currency-hit U. S. business
* Shares indicated at top of DAX index pre-market
(Adds details on results, background)
WALLDORF, Germany, Jan 24 (Reuters) – SAP, Europe’s most valuable technology firm, on Tuesday posted 2016 results on the lower side of analysts’ expectations, while edging up its 2017 sales and profit guidance and signaling slightly higher revenue ambitions four years out.
Fourth-quarter operating profit, excluding special items, for the German software maker rose 4 percent to 2.37 billion euros ($2.55 billion), as growth in its German businesses offset its currency-hit U. S. business, the company said in a statement.
These results were on the light side of estimates ranging from 2.28-2.60 billion euros, according to a Reuters poll of 21 analysts. SAP Finance Chief Luka Mucic indicated last month the company would meet 2016 targets.
Marking progress moving its customer base to newer cloud-based internet platforms from classic packaged software products it has sold for decades, SAP said new cloud bookings jumped 40 percent in the quarter and backlog for unbilled cloud services rose 47 percent to 5.4 billion euros at year-end.
The software maker, whose customers include many of the world’s biggest multinational companies, specializes in applications used in business planning, ranging from accounting to human resources to supply-chain management.
