SAP's quarterly software sales have exceeded €1 billion ($A1.18 billion) for the first time
In its second quarter financial report, SAP revealed revenue from cloud subscriptions and support reached €52 million in the quarter, including revenue from its SuccessFactors acquisition.
Profit after tax reached €661 million, up 12 percent from €588 million in the year-ago quarter.
"We reached the upper end of our second-quarter software revenue guidance range and were at the midpoint of the software and software-related service revenue guidance range," said Werner Brandt, SAP CFO, in a statement. He said the company was on track to meet its 2012 targets and its longer-range 2015 goals.
Software sales in the second quarter were up 26 percent to €1.1 billion from one year earlier. Support revenue grew 16 percent to just more than €2 billion.
Growing its cloud software offerings is one of SAP's major goals. Revenue from cloud subscriptions and services one year earlier was only €4 million.
While some of the most recent quarter's €52 million in cloud-related revenue was generated by the company's Business ByDesign on-demand applications, much of it was the result of SAP's $US3.4 billion acquisition earlier this year of SuccessFactors, the provider of cloud-based human capital management applications.
This article originally appeared at crn.com
Issue: 333 | November 2014
Access CRN's extensive online resources including; email bulletins, community discussions and unique online news.
Processing registration... Please wait.
This process can take up to a minute to complete.
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can log on to the CRN website or start posting comments on articles.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain '@crn.com.au' to your white-listed senders.