Estimated reading time: 0 minutes, 41 seconds

CHINA BIG IN SAP PLANS Featured

Bill McDermott, SAPChina has become strategically important for SAP. That was clear by the software company's recent earnings webcast for the third quarter ended September 30. China had double-digit revenue growth and CEO Bill McDermott described the results this way:

"It's clear that treating China as our second home is really paying off," he says. However, results for the country were not spelled out. SAP reported profit after tax of roughly $1.2 million, a 37-percent increase over last year's corresponding period. Revenue rose 4 percent to approximately $6.5 billion in the most recently ended period. Cloud subscriptions and report revenue of about $1.2 billion was 22-percent higher than the year-earlier period. The rest of revenue came from licenses and support, which was up 1 percent. Despite the continued shift to the cloud, SAP had surprising growth in license sales, up 3 percent year-over-year, which McDermott said exceeded expectations.

Read 1544 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.