| Home : July 17 2014 Computer News : SAP raises annual cloud revenue forecast after the business soars in Q2 |
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SAP raises annual cloud revenue forecast after the business soars in Q2 |
July 17, 2014
SAP reported strong growth in cloud revenue in the second quarter, while its software revenue continued to fall, reflecting a shift in the market from on-premises software and services to applications delivered through the cloud on a subscription model.The business software company’s net profit, however, dropped on account of a provision for a patent litigation.SAP’s cloud subscriptions and support revenue was €241 million (US$329 million) in the quarter, up 52 percent from the same quarter a year earlier under IFRS (International Financial Reporting Standards).The company now expects its non-IFRS cloud subscriptions and support revenue for the full year to grow by up to 39 percent to up to €1.05 billion, up from the earlier forecasted range of €950 million to €1 billion.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2455260/sap-raises-annual-cloud-revenue-forecast-after-the-business-soars-in-q2.html#tk.rss_all
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