SAP A.G. (NYSE: SAP) reported preliminary fourth-quarter and full-year 2013 results before markets opened Friday. The enterprise software company reported an adjusted quarterly operating profit of €2.09 billion ($2.8 billion) on total revenues of €5.11 billion. In the same period a year ago, SAP reported operating profit of €1.97 on revenue of €5.06 billion. Fourth-quarter results compare to the consensus estimates for operating profit of €2.08 billion and €5.17 billion in revenue.

For the full year, SAP reported operating profit of €5.5.0 billion on revenues of €16.89 billion. A year ago the company reported an operating profit of €5.21 billion and €16.30 billion in revenue.

The company’s CEO said:

Four years of double-digit growth clearly shows that our customer-focused innovation strategy is winning. We are one of the few global tech companies that has successfully managed the transition to the cloud while growing our core business and improving our profitability at the same time.

The company’s CFO added:

SAP invested significantly in innovation and successfully scaled its cloud business while maintaining operational discipline and reaching our 2013 operating profit outlook. SAP expanded its non-IFRS operating margin by 140 basis points at constant currencies driven by operational excellence despite the margin impact from acquisitions and our momentum in the cloud.

SAP is expected to provide guidance later this month.

The report did not move the needle much in Frankfort; shares were little changed in mid-day trading.

But in New York, shares were down almost 2% in premarket trading, at $83.11 in a 52-week range of $69.71 to $87.42. Thomson Reuters had a consensus analyst price target of only $61.33 before the results were announced.

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