SAP Confirms Higher 4Q Revenue as Cloud Push Continues
27 Enero 2022 - 12:37AM
Noticias Dow Jones
By Mauro Orru
SAP SE said Thursday that revenue increased in the fourth
quarter as its cloud business continued to grow, confirming
preliminary figures from earlier this month.
Reporting on a non-IFRS basis, the German software company said
total revenue climbed to 7.98 billion euros ($8.97 billion) from
EUR7.54 billion in the fourth quarter of 2020, with cloud revenue
up to EUR2.61 billion from EUR2.04 billion but software-licenses
revenue down to EUR1.46 billion from EUR1.70 billion.
SAP is pivoting away from software-license sales--once its
biggest revenue stream--to subscription-based cloud services,
banking on a more profitable and predictable model based on
recurring revenue.
"The magnitude of our cloud strength is evident. More and more
companies are choosing SAP to help them transform their businesses,
build resilient supply chains and become sustainable enterprises as
they move to the cloud," SAP Chief Executive Christian Klein
said.
Operating profit slipped to EUR2.47 billion from EUR2.77
billion, with operating margin down to 30.9% from 36.8%.
Net profit rose to EUR2.19 billion from EUR2 billion.
SAP backed the 2022 targets it set earlier this month. The
company expects non-IFRS operating profit at constant currencies
between EUR7.8 billion and EUR8.25 billion, and non-IFRS cloud
revenue at constant currencies between EUR11.55 billion and
EUR11.85 billion.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 27, 2022 01:22 ET (06:22 GMT)
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