Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Fast-food giant McDonald's said it will be raising hourly wages for more than 36,500 hardworking employees at McDonald's-owned restaurants by an average of 10 percent to make it among the industry-leading pay and benefits package. These increases, which have already begun, will be rolled out over the next several months. Biogen Inc. (BIIB) Friday said its XIRIUS study of cotoretigene toliparvovec failed to meet its primary endpoint in Phase 2/3 in patients with X-linked retinitis pigmentosa or XLRP. The company further noted that the study obtained positive trends in other pre-specified clinically relevant endpoints,... General Mills Inc. (GIS) agreed to buy Tyson Foods' (TSN) pet treats business for $1.2 billion in cash, the companies said in a statement on Friday. The transaction includes the Nudges, Top Chews and True Chews brands. General Mills will also acquire a manufacturing facility in Independence, Iowa.
Follow RTT