SAP : Decent Q4 performance and FY 2024 guidance at top line level but € 2bn restructuring plan blurs the clarity of real operating leverage
>Q4 revenue 2% above expectations but operating profit is just in line - Total revenue: € 8.47bn, up +9% at cc, 1.6% above expectations in reported terms and 3pts above at cc (consensus: € 8.33bn up 6.0% y-o-y at cc; ODDO BHF: € 8.33bn up 6.6% y-o-y at cc).Cloud subscriptions and support revenue: € 3.70bn up 25% y-o-y at cc, +1.2 pts above consensus expectations at cc (consensus: € 3.74 bn up 23.8% at cc; ODDO BHF: € 3.75bn up 24.8% y-o-y at cc) and implying an a...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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