SAP Jumps as Sustained Cloud Growth Prompts Nudges Guidance up Again

Investing.com2021-10-13

Dhirendra Tripathi Investing.com – ADRs of SAP (NYSE:SAP) were trading higher by more than 5% in Wednesday’s premarket as the company raised its annual outlook for the third time - albeit modestly - ...

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Order backlogs for its Cloud services were up 24% at 8.17 billion euro, while backlogs for its flagship S/4HANA service were up 60% to 1.28 billion.\nBusiness software providers have been major beneficiaries of the pandemic, as pressure to optimize business practices has increased and the adoption of hybrid working-from-home models has demanded greater capabilities from business IT systems. \nWhile transitioning to a subscription-based model has hurt the licensing revenues of 'Old Guard' software companies like SAP and IBM (NYSE:IBM), the German company has increasingly compensated for that elsewhere. Total revenue was up 5% in the third quarter, while earnings per share adjusted for various one-off factors rose 2% to 1.74 euros. Reported earnings per share fell 10% from a year earlier to 1.19 euros.\nRelated Articles\nSAP Jumps as Sustained Cloud Growth Prompts Nudges Guidance up Again\nAs Evergrande default looms, what legal options do offshore creditors have?\nTesla pushing Volkswagen to accelerate electric vehicle shift","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2175115153"}