Better than expected SAP reported strong Q3 17 results. Total revenues increased 4% to €5.59bn (market estimates of €5.68bn, our estimate €5.55bn) and the gross margin improved from 69.4% to 70.1%. Revenues of cloud subscription and support grew 21.8% to €937m. Licence revenues remained flat at €1.03bn and maintenance revenues increased 1.3% to €2.69bn. The marginal increase in licence and maintenance revenues is mainly due to the change in the business model fro
19 Oct 2017
Cloud revenue growth continued
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Cloud revenue growth continued
SAP SE (SAP:WBO) | 0 0 0.2% | Mkt Cap: 103,244m
- Published:
19 Oct 2017 -
Author:
Heinz Steffen -
Pages:
3
Better than expected SAP reported strong Q3 17 results. Total revenues increased 4% to €5.59bn (market estimates of €5.68bn, our estimate €5.55bn) and the gross margin improved from 69.4% to 70.1%. Revenues of cloud subscription and support grew 21.8% to €937m. Licence revenues remained flat at €1.03bn and maintenance revenues increased 1.3% to €2.69bn. The marginal increase in licence and maintenance revenues is mainly due to the change in the business model fro