SAP reports record Q2

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SAP reports record Q2

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

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