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SAP ADRs (SAP) - Get SAP SE Sponsored ADR Report rose in after-hours trading Thursday after the software and cloud services company pre-announced financial results, reiterated its guidance for the year and said its CEO is stepping down.

ADRs rose $6.70, or 5.8%, to $122 in after-hours trading.

The company said cloud services revenue surged 38% in the latest quarter, helped by a large deal with a "major partner" that accounted for 17 percentage points of the gain.

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The company also reiterated its previously released guidance for the full year and said it expects "total revenues to increase strongly, at a rate lower than operating profit."

The company said its CEO, Bill McDermott, is stepping down effective immediately. Two board members, Jennifer Morgan and Christian Klein, were appointed co-CEOs.