SAP SE - SAP STOCK NEWS

SAP reported strong financial results for Q3 2021, with cloud revenue increasing by 20% to €2.39 billion and total revenue up 5% to €6.84 billion. The current cloud backlog rose by 24% to €8.17 billion, reflecting robust demand, particularly for the 'RISE with SAP' initiative. However, IFRS operating profit dropped 15% to €1.25 billion, due in part to higher share-based compensation. The company raised its full-year 2021 outlook, anticipating significant cloud revenue growth. SAP's share of predictable revenue rose to 77%.

SAP SE (NYSE: SAP) launched the SAP SuccessFactors Opportunity Marketplace, a solution enhancing internal mobility by connecting employees with tailored opportunities for growth and development. This platform, incorporating machine learning, evaluates individual interests and experiences, recommending mentorships, gigs, and learning options to foster personal and organizational agility. With potential benefits including better retention and engagement, SAP aims to empower individuals while providing leaders with deeper insights into team capabilities. The solution will be available in the 2H 2021 release of the SAP SuccessFactors HXM Suite.

SAP SE reported strong third-quarter 2021 results, with current cloud backlog up 24% to €8.17 billion. S/4HANA cloud backlog surged 60% to €1.28 billion. Cloud revenue rose 20% to €2.39 billion. The company raised its full-year revenue and profit outlook, reflecting a robust demand for its RISE with SAP subscription offering. Despite strong cloud growth, IFRS operating profit declined 15% to €1.25 billion due to increased compensation expenses. SAP anticipates a shift towards subscription services, impacting software license revenues.

SAP SE (NYSE: SAP) hosted an investor event at the Citi Global Technology Conference on September 15, 2021, featuring CFO Luka Mucic. The event provided insights into SAP's strategic direction, emphasizing its commitment to helping businesses operate as intelligent enterprises through advanced technologies such as machine learning and IoT. A replay of the presentation is available on SAP's Investor Relations website. SAP continues to focus on simplifying technology for its clients and enabling profitable operations across various industries globally.

SAP SE (NYSE: SAP) announced a partnership with Amazon Business to enhance procurement processes within SAP Ariba solutions. This integration allows employees to access millions of items from Amazon Business directly, aligning with corporate purchasing policies. Through real-time search API, users can simplify buying processes and enhance compliance in spending. The rollout will start in the United States, with plans for global expansion. This partnership aims to provide more options for businesses, promoting a better purchasing experience and improving financial results.

SAP SE (NYSE: SAP) has partnered with Red Hat to enhance its contingent workforce management in North America via the SAP Fieldglass application. This collaboration has enabled Red Hat to centralize processes and improve visibility into spending, leading to lower costs and increased compliance. The application streamlines hiring, onboarding, and offboarding, enhancing Red Hat's ability to access top talent. It also allows for comprehensive data reporting, setting the stage for future global expansion as Red Hat adapts to the evolving labor market.

Google Cloud and SAP SE have expanded their strategic partnership to enhance business transformations and cloud migrations. Announced on July 29, 2021, this collaboration aims to provide customers with advanced AI and ML capabilities alongside SAP services on Google Cloud. The partnership will support the RISE with SAP offering, facilitating critical business processes on a secure, scalable infrastructure. As mutual clients like Energizer and MSC Industrial have shown, the integration promises to drive significant operational efficiencies and foster innovation across various industries.

IBM and SAP announced a partnership to onboard SAP finance and data management solutions to IBM Cloud for Financial Services on July 28, 2021. This collaboration aims to enhance cloud adoption in the financial sector by ensuring compliance, security, and innovation. The IBM Cloud for Financial Services provides a secure environment for financial institutions to engage with partners while addressing regulatory standards. The integration is expected to drive operational efficiencies and unlock revenue opportunities amidst stringent industry demands.