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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 beats sales and earnings estimates atop continued cloud growth SHARE SAP SE provided few surprises in its fiscal fourth-quarter earnings announcement early today, which it had previewed earlier this month, as the enterprise resource planning giant notched declines in both revenue and operating profit but beat analysts’ estimates on metrics. The company gave an upbeat account of its aggressive campaign to move customers to the cloud, saying the short-term squeeze on revenues pressure will give way to better visibility and cross-sell opportunities. Executives in particular touted “RISE with SAP,” a combined software and service offering that it calls “business transformation-as-a-service,” which they said will drive more customers toward subscription services combining multiple SAP products. ....