By Mauro Orru SAP confirmed its guidance for the year after posting higher revenue and operating profit for the third quarter, led by growth at its core...
By Mauro Orru SAP confirmed its guidance for the year after posting higher revenue and operating profit for the third quarter, led by growth at its core cloud business.
SAP is moving away from software-licenses sales to subscription-based cloud services, banking on a more profitable and predictable model based on recurring revenue. The company said Brazil, India, and the Netherlands had enjoyed outstanding cloud revenue growth in the quarter, while Canada, China, France, Germany, Japan, and Switzerland also performed particularly well.
Analysts had forecast total revenue of EUR7.73 billion and cloud revenue of EUR3.53 billion on operating profit of EUR2.19 billion and a 28.4% operating margin, according to a company-provided consensus on a non-IFRS basis.
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