Cloud computing lifts SAP’s Q1 results
April 21, 2013
Grazed from CloudPro. Author: Jane McCallion.
Software maker SAP posted a 23 per cent rise in software and cloud subscription revenue and 25 per cent overall business growth in its first quarter results. Revenue generated by the organisation’s software-as-a-service business was €167 million in Q1 2013, an increase of 380 per cent year-on-year, with the company claiming its annual cloud revenue run rate was approaching €900 million.
Revenues generated by SAP HANA, the organisation’s big data offering, have also increased. SAP HANA software revenues have tripled, the organisation claimed, adding €86 million to overall software revenue in Q1…
Bill McDermott and Jim Hagemann Snabe, co-CEOs of SAP, said in a statement: “Our industry is at a fundamental transformation point, driven by the convergence of mobile, cloud and big data. “Customers continue to choose our innovations to help them run better, and SAP HANA is the next-generation platform for all companies to innovate their business, drive speed across the entire enterprise and reduce costs.”…
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