Business SAP is restored better than aidlessly Dragun | 09.07.2020
SAP, the German software developer, has confirmed its annual earnings forecast. Revenue for the period increased by 2% and amounted to 6.74 billion Euro. Income from a “cash cow”
The SAP software licenses fell by 18%, but revenue from cloud computing increased by the same amount.
Revenues from licenses, though below the normal level, still more than expected.
Operating profit increased by 7% to 1.96 billion euros, since SAP has stopped hiring new employees and reduced costs for business trips, and presentations translated online.
Quick response to the crisis and the cuts in spending led to strong growth in operating profit, said the FCO, the company Luka Mucic.
The most valuable technological company of Europe confirmed its forecast for the year 2020 in relation to the operating profit range of 8.1-8.7 billion euros.
SAP plans to publish full details on revenues for the second quarter on July 27.
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