License and support revenue rose to $3.73 billion, an 8-percent increase from last year's corresponding period with license sales up 13 percent. Cloud subscription and support in the quarter totaled roughly $987.3 million, a rise of 34 percent from 2016's totals. CEO Bill McDermott continued to beat the competitive drums, with the message SAP is killing the competition. "SAP is gaining mass market share against our competition," he said during the company's recent earnings webcast. "We are expanding in every region in the world." Profit numbers, however, went the other way, with operating profit off 17 percent. For the quarter, before tax profit was approximately $578.2 million, down 7 percent from a year earlier. All numbers reported are IFRS.
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SAP GROWS CLOUD AND LICENSES Featured
Most software companies are seeing cloud revenue increase while license sales drop. But for its first quarter ended March 31, SAP grew both segments. Overall revenue reached about $5.76 billion for the most recently ended quarter, up 12 percent from a year earlier.
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