SAP 2021 Revenue Outlook Up After Cloud Gains in First Quarter

Share post:

German tech group SAP last Tuesday increased its revenue outlook for 2021 after reporting encouraging first-quarter results, with gains derived from cloud sales following the launch of a new business transformation initiative. 

The Walldorf-based company presented its stellar first quarter results that showed CEO Christian Klein’s new focus on selling business transformation as a service through its Rise with SAP package which has been steadily picking up. 

SAP expects their cloud and software services to pull in revenue of $28 billion at constant currency, a 1-2% rise from last year’s earnings. 

New cloud business rose 19% in the first quarter – the fastest in five years – while adjusted cloud revenue moved up 13% at constant currency. 

Total company revenue rose by 2% in the quarter at constant currency to 6.35 billion Euros. After removing operating profit which was depressed by executive share compensation, profit increased by 24% to 1.74 billion Euros. 

SAP will report its full quarterly results on April 22. 

For more information, you may view the original story from Reuters.

Featured Tech Jobs


Related articles

Akamai technology uses edge computing to take on AWS, Azure and Google Cloud

Akamai Technologies is strategically expanding its cloud computing footprint through a focus on edge computing, aiming to challenge...

Broadcom’s VMWare changes make tech leaders look for possible escape route

Broadcom's significant overhaul of VMware is generating buzz within the tech industry, especially among Chief Information Officers (CIOs),...

Broadcom shakes up VMWare partner network

Broadcom's hefty $61 billion acquisition of VMware is turning the virtualization world upside down, especially for Cloud Services...

Dropbox AI offering sparks privacy concerns

Dropbox recently sparked concerns among its users with a new AI-powered search feature that shares data with OpenAI...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways