The North American recurring revenue totaled about $219 million with total Sage organic revenue rising 5 percent year-over-year to approximately $576.5 million. Sage did not say what total organic revenue growth was for North America, but recurring revenue is the largest part of total revenue. Company-wide recurring revenue was about $540 million, an increase of 8 percent over last year’s corresponding period. Sage’s software subscription revenue reached approximately $423 million, up 13 percent over a year ago. During trading update webcast, CFO Jonathan Howell said subscription income now represents 73 percent of total revenue, compared to 61 percent a year ago. Sage Business Cloud revenue increased 21 percent to approximately $352.6 million. SBC is comprised by cloud-native and cloud-connected products. Sage did not provide earnings information, which is typical for the trading updates issue for the first and third quarters each year.
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NORTH AMERICA LEADS SAGE 1Q GROWTH Featured
North America posted 11-percent recurring revenue growth for the Sage Group for the first quarter ended December 31. That led all regions reported by Sage in this week’s trading update.
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