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
Copyright © 2014 The Channel Company, LLC. All rights reserved.
Issue: 342 | September 2015