Sap Se - SAP STOCK NEWS

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.

On July 27, 2021, SAP SE (NYSE: SAP) reported strong growth as numerous companies, including Molson Coors and the Florida Department of Management Services, selected SAP Ariba and SAP Fieldglass solutions for digital procurement and workforce management. The quarter highlighted partnerships with companies such as Alcon Vision and BITZER SE, focusing on optimizing spend management and improving efficiency. SAP's solutions aim to enhance visibility, control costs, and drive innovation across various sectors. This ongoing demand for their services reflects SAP's strategic importance in digital transformation.

SAP reported its Q2 2021 financial results with cloud revenue rising 11% to €2.28 billion, bolstered by increased demand for the 'RISE with SAP' offering and strong customer momentum. Total revenue declined 1% year-over-year to €6.67 billion.

Operating profit fell by 23% to €0.98 billion, attributed to higher compensation expenses. Despite challenges, the current cloud backlog grew 17% to €7.77 billion. SAP raised its full-year outlook for cloud revenues, now expecting €9.3 to 9.5 billion, representing a 15% to 18% growth at constant currency rates.