“All in all we are very content with where we are,” CFO Jonathan Howell said during a webcast. North America recurring revenue growth rose by 11.8 percent to about $201 million. The trading update provided revenue figures, but no expense or earnings figures. Howell said Intacct subscription revenue was up 31 percent—which is consistent with the range we have Oracle NetSuite, reflecting a hot market for cloud software. Overall, software subscription revenue increased by 24.8 percent to approximately $299 million for the quarter. Recurring revenue of $121 million in North Europe (United Kingdom and Ireland) represented an increase of 15.1 percent. One other category report is “Future Sage Business Cloud Opportunity (products within, or to be migrated to, Sage Business Cloud)”. Revenue there was approximately $472 million in recurring revenue, up 12.7 percent. The other side of the cloud migration is the expected drop in software license sales. Sage’s category here, software and software-related services, fell 15.8 percent to about $71.8 million for the December quarter.Last modified on Wednesday, 22 January 2020
SAGE TERMS 1Q RESULTS “STRONG” Featured
Sage was happy with the results for the first quarter ended December 31. The company this week said in a trading update revenue rose to about $606.6 million for the recently ended period, an increase of 6.7 percent from last year’s corresponding period.