SAP beats sales and earnings estimates atop continued cloud

SAP beats sales and earnings estimates atop continued cloud growth


SAP beats sales and earnings estimates atop continued cloud growth
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SAP SE provided few surprises in its fiscal fourth-quarter earnings announcement early today, which it had previewed earlier this month, as the enterprise resource planning giant notched declines in both revenue and operating profit but beat analysts’ estimates on metrics.
The company gave an upbeat account of its aggressive campaign to move customers to the cloud, saying the short-term squeeze on revenues pressure will give way to better visibility and cross-sell opportunities. Executives in particular touted “RISE with SAP,” a combined software and service offering that it calls “business transformation-as-a-service,” which they said will drive more customers toward subscription services combining multiple SAP products.

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