SAP continued to push its image of being the irresistible force in software for the third quarter ended September 30. There is to least some truth about that as after-tax profit was up 23 percent over last year's corresponding quarter. But revenue growth was more modest. After-tax profit was about $762 million. Revenue hit about $5.58 billion, up 2 percent from last year's corresponding period and an increase of 9 percent in constant currencies. Those were the IFRS numbers. SAP pushed the non-IFRS numbers which showed software and cloud subscription revenue as being up 13 percent just as rival NetSuite pushes its non-GAAP earnings, but not its GAAP loss. Co-CEO Bill McDermott stressed the fact that growth was up in all geographies in all product lines. McDermott says the company's Hana in-memory products is the industry standard in in-memory and grew at 90 percent over the prior year. As important as the numbers during this week's webcast was SAP's announcement that Hana is a platform for all its applications with McDermott terming Hana "the best platform on earth." Co-CEO Jim Hagemann Snabe reported that the company had 17-percent growth in software and subscription cloud in the Americas. Separating out cloud and software products yields no surprise. In terms of IFRS, software revenue was off 5 percent but cloud subscriptions and support revenue was up 230 percent.
Estimated reading time: 1 minute, 5 seconds
SAP POSTS STRONG EARNINGS Featured
Most Read
-
-
May 19 2021
-
Written by BobWScott
-
-
-
May 22 2017
-
Written by mark
-
-
-
May 22 2017
-
Written by BobWScott
-
-
-
May 25 2016
-
Written by mark
-