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SAP REVS UP 5 PERCENT; CLOUD 20 PERCENT Featured

SAP says revenue for the third quarter ended September 30 reached about $7.93 billion, a 5-percent increase over last year’s corresponding  period. The number are preliminary with final results to be released on October 21.

 

The software company also said after-tax income fell 14 percent to roughly $1.65 billion. SAP will release final results on October 21. Of course, growth was driven by cloud revenue, which was approximately $2.77 billion, a 20-percent increase. S/4 Hana cloud revenue was about $325 million, a 46-percent year-over-year increase. Software license and support revenue continued its downward trend, falling 1 percent to roughly $4.08 billion. SAP also revised its 2021 forecast upward. Revenue is expected in the range of 9.4 to 9.6 euro, up from the prior forecast of 9.3 to 9.6 percent, an increase of 16 percent to 19 percent over 2020.

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