SAP: cloud revenue growth accelerates, shares slip
(CercleFinance.com) - Germany's SAP said cloud revenue growth accelerated in the second quarter, boosting its operating margin but failing to send the shares higher on Thursday.
Europe's biggest software maker said new cloud bookings grew 24% (+29% at constant currencies) in the second quarter, and reached 421 million euros.
At the same time, second-quarter software revenue was down 9% year-over-year to 996 million when using international financial reporting standards (IFRS).
All in all, second quarter operating profit was up 13% year-over-year to 1.04 billion euros (IFRS), with operating margins pushed to 17.4 per cent from 16 per cent in 2017.
Investors were not impressed by this globally in-line performance. Shares in SAP fell 1% slightly below 103.8 euros in Frankfurt this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Europe's biggest software maker said new cloud bookings grew 24% (+29% at constant currencies) in the second quarter, and reached 421 million euros.
At the same time, second-quarter software revenue was down 9% year-over-year to 996 million when using international financial reporting standards (IFRS).
All in all, second quarter operating profit was up 13% year-over-year to 1.04 billion euros (IFRS), with operating margins pushed to 17.4 per cent from 16 per cent in 2017.
Investors were not impressed by this globally in-line performance. Shares in SAP fell 1% slightly below 103.8 euros in Frankfurt this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.