Report
Nicolas David

SAP : Résultats T2 2021: une publication frustrante. Pas de catalyseur en vue

>Résultats T2 légèrement supérieurs aux attentes - Le CA T2 ressort à 6.67 Md€ en croissance de 3% à cc, en ligne avec les attentes du consensus. Les revenus Cloud accélèrent comme attendu, à +17% (vs +13% au T1), tirés à la fois par le bon momentum de S/4 Cloud et un début de recovery de Intelligent Spend (+7% org vs -2% au T1). Les licences sont en décroissance de 13% à cc, en ligne avec nos attentes mais 5 pts au-dessus du consensus. Il s’agit d’un indicateur intér...
Underlying
SAP SE

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Nicolas David

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