Europe’s largest software manufacturer SAP is speeding up the sale of its software for use over the Internet. In the first quarter, sales of such products increased by 24 percent year-on-year, SAP said. Industry experts complained, however, that SAP made a surprising amount of money in the first quarter, especially with software licenses for on-site installation, which are not part of future business. It also happened that SAP promised less growth in earnings for the year as a whole. Overall, revenues in the first quarter increased by ten percent to 7.44 billion euros. SAP increased earnings before interest and taxes adjusted for special effects by twelve percent to 1.88 billion euros. The US subsidiary Qualtrics, whose sale SAP announced in March, has already been excluded from the business figures. Software licenses generate comparatively high earnings with high one-off sales prices. The new SAP CFO Dominik Asam pointed to several large deals in the area in the first quarter. This should not be repeated in the rest of the year. SAP’s goal is to focus on the cloud business, which is considered more stable.
Software group – SAP is growing in the cloud – Economy
