SAP : Preview T2 2019 : les attentes du marché ont sensiblement monté post T1
>Croissance attendue solide au T2 mais le mix pourrait surprendre - Nous anticipons un CA T2 2019 de 6.76 Md€, en croissance de 9.6% à cc (soit +7.9% org.) en ligne avec les attentes du consensus. Toutefois, nos prévisions divergent sur le mix d’activités et le consensus nous semble trop optimiste sur le Cloud et trop pessimiste sur les licences.Nous anticipons un CA T2 2019 Cloud Subscription & Support de 1.6 Md€ (+35% y/y rep. / +30% y/y cc / +24% y/y org.). Le...SAP is engaged in selling licenses for software solutions and related support services. Co. derives its revenue from fees charged to its customers for the use of its cloud solutions and for licensing of on-premise software products and solutions. Additional sources of revenue are support, professional services, development, training, and other services. Co. has more than 300,000 customers in over 180 countries. Co.'s SAP HANA platform holds the ability to simplify both the user experience and the overall IT landscape, creating a smaller data footprint, increased system throughput, and easier data processing and operation.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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