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SAP posts growth but lowers outlook in main software business |
July 18, 2013
SAP reported revenue growth in the second quarter driven by growth in cloud subscriptions and revenue from support and its HANA in-memory database.However, the company lowered its growth outlook for software and software-related service revenue for the full year 2013, citing lower software revenue expectations as a result of macroeconomic challenges, particularly in Asia Pacific and Japan, and a rapid transition to the cloud.The business software company said Thursday that its revenue grew 4 percent to €4 billion (US$5.3 billion) from the same quarter last year, according to IFRS (international financial reporting standards). Profit grew 10 percent to €724 million.Software and software-related service revenue grew 6 percent year-on-year to €3.3 billion although revenue from software dropped 7 percent to €982 million. Cloud subscriptions and support revenue increased 206 percent to €159 million, while support revenue grew 8 percent year-on-year to €2.2 billion.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2044625/sap-posts-growth-but-lowers-outlook-in-main-software-business.html#tk.rss_all
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