WALLDORF / LONDON (IT BOLTWISE) – SAP has published its quarterly figures for the third quarter, narrowly missing analysts’ expectations. Sales were 9.08 billion euros, while forecasts were 9.09 billion euros. Despite this slight disappointment, SAP confirmed its annual cloud revenue forecast.
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German software company SAP recently announced its third-quarter results, which drew mixed reactions from investors and analysts. With non-IFRS sales of 9.08 billion euros, the company fell slightly short of analysts’ expectations, who had expected 9.09 billion euros. This narrow miss of forecast led to a slight decline in SAP ADR shares in after-hours trading on the New York Stock Exchange, where they fell 2.25 percent to $270.00.
Although quarterly figures didn’t quite meet expectations, SAP remains optimistic about its cloud strategy. The group confirmed its annual forecast for cloud sales, which should be at the lower end of the range between 21.6 and 21.9 billion euros. This confirmation shows the company’s confidence in the growth potential of its cloud services, which are becoming increasingly important.
SAP’s cloud strategy is a central part of the company’s direction as more and more companies switch to cloud-based solutions. SAP has made significant investments in its cloud infrastructure in recent years to keep pace with competitors such as Oracle and Microsoft. These investments are intended to help SAP strengthen its market position and attract new customers.
Experts see the confirmation of the cloud forecast as a positive signal for the future of SAP. The company’s cloud services provide scalable solutions tailored to the needs of modern businesses. With a focus on security and efficiency, SAP has continually improved its cloud offerings to meet customers’ growing needs.
Overall, it shows that, despite slightly missing its quarterly forecasts, SAP is well positioned to benefit from the increasing demand for cloud services. The confirmation of the annual cloud revenue forecast underscores the company’s confidence in its strategic direction and ability to succeed in a competitive market environment.
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