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SAP posts strong earnings on fastest new cloud growth in five years

SAP posts strong earnings on fastest new cloud growth in five years SHARE SAP SE’s profits rose sharply in its first fiscal quarter, helped by strong growth in its cloud business, but revenues came in flat, in line with earlier guidance. Even so, the German software giant said it’s bullish on full-year results as customer migrations to the cloud accelerate. Total revenue rose 2% in constant-currency terms, to $7.56 billion. Cloud revenue rose 13%, to $2.57 billion. Combined cloud and software revenue edged up 6%, to $6.52 billion, and operating profit jumped 24%, to $2.1 billion. Net profit rose to $1.99 billion from $1.22 billion in the same quarter a year ago.

SAP Says New Cloud Package a Hit, Confirms Outlook

SAP says new cloud package a hit, confirms outlook BERLIN (Reuters) - Software group SAP said on Thursday its new all-in cloud package was proving to be a hit with its customers, as it confirmed its first-quarter results and recently raised guidance. We are seeing very strong order entry growth across our applications portfolio, said CEO Christian Klein. SAP s new business transformation product, Rise with SAP, was rapidly becoming a massive accelerator . SAP confirmed its guidance after earlier this month nudging up expectations for cloud and software revenue to 23.4-23.8 billion euros ($28.15-$28.64 billion) this year, representing a rise of 1%-2% year on year.

Summit Interconnect Anaheim Opens New State Of the Art Laboratory

Summit Interconnect Anaheim Opens New State Of the Art Laboratory
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Net profit of German software company SAP soars 70 pct in Q1 - World News

Net profit of German software company SAP soars 70 pct in Q1 - World News
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SAP SE O N (SAP) Q1 2021 Earnings Call Transcript

SAP SE O N (SAP) Q1 2021 Earnings Call Transcript
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