SAP's cloud business drives quarterly results, raised outlook - Reuters

sisilihya.blogspot.com

The logo of SAP is seen on their offices in Reston, Virginia, U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly

BERLIN, Oct 21 (Reuters) - SAP (SAPG.DE)said on Thursday that demand for its cloud business database was growing as the German business software group confirmed its preliminary third-quarter results and full year guidance which it raised last week.

The company had forecast cloud revenue to grow by 16%-19% in the year as a whole, helping its overall cloud and software revenue to increase by 2%-4%. read more

Cloud backlog for flagship database S/4HANA was up 58% at constant currencies and current cloud backlog - a measure of incoming business - grew 22% in the third quarter.

"Our cloud revenue now represents 35% of our total revenue and that's driving up our share of more predictable revenue, which rose by three percentage points year over year to 77%," Chief Financial Officer Luka Mucic said on a call with journalists.

SAP raised its forecast for cloud and software revenue for the full year by 200 million euros to 23.8 billion-24.2 billion euros.

Adjusted revenue rose 5% to 6.68 billion euros ($7.70 billion) for the third quarter ended Sept. 30, and adjusted earnings per share rose 2% to 1.74 euros, backed again by its profitable venture capital investments, Sapphire Ventures.

($1 = 0.8581 euros)

Reporting by Nadine Schimroszik and Riham Alkousaa; Supantha Mukherjee in Stockholm, editing by John Revill and Kim Coghill

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)

"results" - Google News
October 21, 2021 at 12:57PM
https://ift.tt/3G4Ncl7

SAP's cloud business drives quarterly results, raised outlook - Reuters
"results" - Google News
https://ift.tt/2SvRPxx
https://ift.tt/2Wp5bNh

Bagikan Berita Ini