On April 22nd, German software giant SAP announced its first quarter financial results, with cloud business sales increasing 24% year-on-year to 3.93 billion yen, supported by demand for enterprise resource planning (ERP) software. million euros ($4.19 billion). The photo is the company’s logo. Photographed in May 2021 in Virginia, USA (2024 Reuters/Andrew Kelly)
[２２日 ロイター] – German software giant SAP (SAPG.DE)New Tab, opens new tab announced its first quarter results on the 22nd, showing that cloud business sales increased from the previous year, supported by demand for enterprise resource planning (ERP) software. Sales totaled 3.93 billion euros ($4.19 billion), an increase of 24% over the same period.
Operating loss was 787 million euros, due to the recording of 2.2 billion euros in provisions to cover restructuring-related costs.
The company recently announced that it will spend 2 billion euros on a restructuring plan for 8,000 employees. Staff will be replaced through retraining to equip them with artificial intelligence (AI) skills and through voluntary retirement.
ERP software is primarily targeted at corporate customers and is used to manage key operations from accounting to supply chain management.
The company maintained its full-year 2024 outlook, expecting cloud revenue of 17 billion to 17.3 billion euros.
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