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.

BENGALURU] German software maker SAP on Tuesday (Apr 22) reported an adjusted operating profit of 2.5 billion euros (S$3.7 billion) for the first quarter of the year that came in above analysts’ estimates.

STORY: Shares in SAP surged around 10% in early trade Wednesday (April 23).Investors bought in after Europe's largest software maker beat first-quarter profit forecasts, and confirmed its full-year cloud revenue targets.