{"id":118539,"date":"2021-07-21T06:14:57","date_gmt":"2021-07-21T06:14:57","guid":{"rendered":"https:\/\/fin2me.com\/?p=118539"},"modified":"2021-07-21T06:14:57","modified_gmt":"2021-07-21T06:14:57","slug":"sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/","title":{"rendered":"SAP lifts outlook as cloud push gains traction in the second quarter"},"content":{"rendered":"<ul>\n<li>SAP now expects cloud revenue to grow by 15%-18% in the year, helping its overall cloud and software revenue to gain by 2%-3%. <\/li>\n<li>Operating profit is now expected to be unchanged to down 4% for the year.<\/li>\n<\/ul>\n<p>German business software group SAP raised its outlook for the second time this year as a strategic push to help customers shift their IT operations to the cloud gained traction in the second quarter.<\/p>\n<p>SAP now expects cloud revenue to grow by 15%-18% in the year, helping its overall cloud and software revenue to gain by 2%-3%. Operating profit is now expected to be unchanged to down 4% for the year.<\/p>\n<p>&quot;We&#x27;re seeing strong adoption of our cloud portfolio as customers select SAP for their business transformation. Our strategy is working,&quot; Chief Executive Officer Christian Klein said on Wednesday.<\/p>\n<p>SAP ditched its mid-term forecasts last October as Klein went all-in on cloud services that generate subscription revenue spread out over time, in contrast to software licenses that deliver chunky up-front fees. <\/p>\n<p>He launched Rise with SAP, an all-in-one digital transformation package, at the start of this year and strong take-up helped drive 20% growth in the current cloud backlog &#8211; a measure of incoming business &#8211; during the second quarter.<\/p>\n<p>Revenue, up 3% to 6.67 billion euros ($7.85 billion) in the quarter, was in line with median estimates of analysts compiled by Refinitiv. Operating profit, up 3% at 1.92 billion euros, was ahead of the median view.<\/p>\n<p>SAP lifted its forecast for cloud and software revenue for the full year by 200 million euros to 23.6 billion-24 billion euros, while it now sees operating profit at 7.95 billion-8.25 billion euros &#8211; an increase of 150 million euros at the lower boundary.<\/p>\n<p>The company, based in Walldorf, reports financials on a non-IFRS, or adjusted, basis at constant currencies to strip out effects like the impact of share-based compensation or shifts in the dollar-euro exchange rate. <\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/07\/21\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SAP now expects cloud revenue to grow by 15%-18% in the year, helping its overall cloud and software revenue to gain by 2%-3%. Operating profit [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":118538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SAP lifts outlook as cloud push gains traction in the second quarter - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SAP lifts outlook as cloud push gains traction in the second quarter - Fin2me\" \/>\n<meta property=\"og:description\" content=\"SAP now expects cloud revenue to grow by 15%-18% in the year, helping its overall cloud and software revenue to gain by 2%-3%. Operating profit [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-21T06:14:57+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/SAP-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/\",\"url\":\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/\",\"name\":\"SAP lifts outlook as cloud push gains traction in the second quarter - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-07-21T06:14:57+00:00\",\"dateModified\":\"2021-07-21T06:14:57+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/fin2me.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"SAP lifts outlook as cloud push gains traction in the second quarter\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SAP lifts outlook as cloud push gains traction in the second quarter - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/","og_locale":"en_US","og_type":"article","og_title":"SAP lifts outlook as cloud push gains traction in the second quarter - Fin2me","og_description":"SAP now expects cloud revenue to grow by 15%-18% in the year, helping its overall cloud and software revenue to gain by 2%-3%. Operating profit [...]","og_url":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/","og_site_name":"Fin2me","article_published_time":"2021-07-21T06:14:57+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/SAP-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/","url":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/","name":"SAP lifts outlook as cloud push gains traction in the second quarter - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-07-21T06:14:57+00:00","dateModified":"2021-07-21T06:14:57+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/business\/sap-lifts-outlook-as-cloud-push-gains-traction-in-the-second-quarter\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/fin2me.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"SAP lifts outlook as cloud push gains traction in the second quarter"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/118539"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=118539"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/118539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/118538"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=118539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=118539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=118539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}