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SAP Preliminary Q1 Profit Rises

SAP SE (SAP) Tuesday announced its preliminary financial results for the first quarter ended March 31. The company reported first-quarter profit of 1.07 billion euros or 0.88 euro per share, up from 0.81 billion euros or 0.68 euro per share last year.

The company reported preliminary first-quarter revenues of 6.35 billion euros, down 3% from 6.52 billion euros last year.

Cloud revenues for the quarter grew 7% to 2.14 billion euros, while Software Licenses Revenue also rose 7% 3.28 billion euros.

Commenting on the preliminary results, CFO Luka Mucic said, "The first quarter of 2021 was unique in many ways. We had the highest order entry growth across cloud and software in five years while posting the strongest increase in Non-IFRS operating profit and margin in a decade. In the mid term SAP's expedited shift to the cloud will accelerate topline growth and significantly increase the resiliency and predictability of our business."

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