SAP beats by EUR0.01; beats on revs; reaffirms FY16 outlook :
Reports Q2 GAAP EPS of EUR0.68 vs EUR0.67 Capital IQ consensus; revs increased 5% YoY to EUR5.24 bln vs EUR5.22 bln consensus
- Cloud and software revenue up 7% (:IFRS) and up 11% (non-IFRS at constant currencies)
- Cloud revenue up 30% (:IFRS) and up 33% (non-IFRS at constant currencies)
Regional Performance
- The Company had a strong performance in the EMEA region, successfully navigating through the post UK referendum uncertainty, with an increase in cloud and software revenue of 7% (:IFRS) and 11% (non-IFRS at constant currencies). Cloud subscriptions and support revenue grew 38% (:IFRS) and 41% (non-IFRS at constant currencies). In EMEA, SAP had strong double-digit software licenses revenue growth in France, the Netherlands, Switzerland, across Southern Europe and again a solid performance in Germany. Russia and Germany had very strong double-digit growth in cloud subscriptions and support revenue.
- In the Americas region, the Company grew cloud and software revenue by 8% (:IFRS) and 11% (non-IFRS at constant currencies) and cloud subscriptions and support revenue by 26% (:IFRS) and 29% (non-IFRS at constant currencies). North America delivered a solid second quarter and is back on track with its half year performance. In Latin America, the political and macroeconomic instability continued. However, SAP had strong double-digit growth in software licenses revenue in Brazil and Mexico.
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