SAP sees edge in cloud security, raises sales forecast
July 17, 2014
Grazed from Reuters. Author: Harro Ten Wolde.
German business software maker SAP raised its sales forecast for web-based software on Thursday, saying competitors were unable to match the security of its cloud computing systems. Cloud computing allows businesses to cut costs by ditching bulky servers for network-based systems using remote data centres run by technology companies.
The company said it expected revenue from cloud subscriptions and support of between 1 billion and 1.05 billion euros in constant currency terms this year, up from a previous forecast for 950 million to 1 billion euros. Revenue from its cloud business jumped by 32 percent to 242 million euros in the second quarter, helping overall revenue grow 2 percent to 4.2 billion euros…
Chief Executive Bill McDermott said he expected to snatch business from pure cloud service providers such as Salesforce.com and Workday Inc. SAP shares were up 3.2 percent at 0800 GMT (4.00 a.m. EDT), at the top of a European technology share index, which was up 0.7 percent. The stock has fallen 4 percent so far this year…
Read more from the source @ http://www.reuters.com/article/2014/07/17/us-sap-se-results-idUSKBN0FM0CZ20140717