SAP Doubles Down on Cloud ERP and CRM Following In-Line 1Q, but We're Not Completely Sold
SAP reported solid first-quarter results that were in line with our expectations as cloud subscriptions fueled the top line, rising 18% year over year. Total IFRS revenue was flat year over year at EUR 5.3 billion, with cloud contributing more than EUR 1 billion in quarterly revenue for the first time.  We have updated our model to account for management’s expectations for the balance of the year inclusive of the recently completed Callidus acquisition, and we are raising our fair value estimate...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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