• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Articles
  • News
  • Events
  • Advertize
  • Jobs
  • Courses
  • Contact
  • (0)
  • LoginRegister
    • Facebook
    • LinkedIn
    • RSS
      Articles
      News
      Events
      Job Posts
    • Twitter
Datafloq

Datafloq

Data and Technology Insights

  • Categories
    • Big Data
    • Blockchain
    • Cloud
    • Internet Of Things
    • Metaverse
    • Robotics
    • Cybersecurity
    • Startups
    • Strategy
    • Technical
  • Big Data
  • Blockchain
  • Cloud
  • Metaverse
  • Internet Of Things
  • Robotics
  • Cybersecurity
  • Startups
  • Strategy
  • Technical

SAP lifts outlook as cloud push gains traction in Q2

Reuters / 1 min read.
July 21, 2021
floq.to/jB5Zg

BERLIN (Reuters) -German business software group SAP raised its outlook for the second time this year as a strategic push to help customers shift their IT operations to the cloud gained traction in the second quarter.

SAP now expects cloud revenue to grow by 15%-18% in the year, helping its overall cloud and software revenue to gain by 2%-3%. Operating profit is now expected to be unchanged to down 4% for the year.

“We’re seeing strong adoption of our cloud portfolio as customers select SAP for their business transformation. Our strategy is working,” Chief Executive Officer Christian Klein said on Wednesday.

SAP ditched its mid-term forecasts last October as Klein went all-in on cloud services that generate subscription revenue spread out over time, in contrast to software licences that deliver chunky up-front fees.

He launched Rise with SAP, an all-in-one digital transformation package, at the start of this year and strong take-up helped drive 20% growth in the current cloud backlog – a measure of incoming business – during the second quarter.

Revenue, up 3% to 6.67 billion euros ($7.85 billion) in the quarter, was in line with median estimates of analysts compiled by Refinitiv. Operating profit, up 3% at 1.92 billion euros, was ahead of the median view.

SAP lifted its forecast for cloud and software revenue for the full year by 200 million euros to 23.6 billion-24 billion euros, while it now sees operating profit at 7.95 billion-8.25 billion euros – an increase of 150 million euros at the lower boundary.

The company, based in Walldorf, reports financials on a non-IFRS, or adjusted, basis at constant currencies to strip out effects like the impact of share-based compensation or shifts in the dollar-euro exchange rate.

($1 = 0.8495 euros)

(Reporting by Douglas Busvine; Editing by Riham Alkousaa and Sherry Jacob-Phillips)

Categories: News
Tags: BI, Cloud, share, strategy

About Reuters

Primary Sidebar

E-mail Newsletter

Sign up to receive email updates daily and to hear what's going on with us!

Publish
AN Article
Submit
a press release
List
AN Event
Create
A Job Post

Jobs

  • Software Engineer | South Yorkshire, GB - February 07, 2023
  • Software Engineer with C# .net Investment House | London, GB - February 07, 2023
  • Senior Java Developer | London, GB - February 07, 2023
  • Software Engineer – Growing Digital Media Company | London, GB - February 07, 2023
  • LBG Returners – Senior Data Analyst | Chester Moor, GB - February 07, 2023
More Jobs
Host your website with Managed WordPress for $1.00/mo with GoDaddy!

Tags

AI Amazon analysis analytics app Apple application Artificial Intelligence BI Big Data business CEO China Cloud Companies company content costs court crypto customers Data digital future Google+ government industry information machine learning market mobile Musk news Other public research revenue sales security share social social media strategy technology twitter

News

  • India’s Paytm tumbles on plan to curtail low-value personal loans
  • EU thrashing out landmark AI rules in marathon overnight talks
  • US judge signs off on Binance, former chief’s plea deals with DOJ -court filings
  • Chinese e-commerce platform Temu drawing shoppers from US dollar stores -data
  • Musk’s SpaceX approaches investors for another tender offer – Bloomberg News
More News

Related Online Courses

  • Oracle Cloud Data Management Foundations Workshop
  • Data Science at Scale
  • Statistics with Python
More courses

Footer


Datafloq is the one-stop source for big data, blockchain and artificial intelligence. We offer information, insights and opportunities to drive innovation with emerging technologies.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Recent

  • 5 Reasons Why Modern Data Integration Gives You a Competitive Advantage
  • 5 Most Common Database Structures for Small Businesses
  • 6 Ways to Reduce IT Costs Through Observability
  • How is Big Data Analytics Used in Business? These 5 Use Cases Share Valuable Insights
  • How Realistic Are Self-Driving Cars?

Search

Tags

AI Amazon analysis analytics app Apple application Artificial Intelligence BI Big Data business CEO China Cloud Companies company content costs court crypto customers Data digital future Google+ government industry information machine learning market mobile Musk news Other public research revenue sales security share social social media strategy technology twitter

Copyright © 2023 Datafloq
HTML Sitemap| Privacy| Terms| Cookies

  • Facebook
  • Twitter
  • LinkedIn
  • WhatsApp

In order to optimize the website and to continuously improve Datafloq, we use cookies. For more information click here.

Dear visitor,
Thank you for visiting Datafloq. If you find our content interesting, please subscribe to our weekly newsletter:

Did you know that you can publish job posts for free on Datafloq? You can start immediately and find the best candidates for free! Click here to get started.

Not Now Subscribe

Thanks for visiting Datafloq
If you enjoyed our content on emerging technologies, why not subscribe to our weekly newsletter to receive the latest news straight into your mailbox?

Subscribe

No thanks

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Marketing cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!