SAP : Despite a sizeable beat in Q2, Cloud segment and slight adjustment to 2023 guidance disappoint
>Solid Q2 sales thanks to on-premises software while the Cloud disappoints - SAP’s Q2 2023 results, unveiled yesterday after trading, were broadly solid. Sales came to € 7.554bn, in line with expectations. Growth at cc of 8% beat forecasts (Visible Alpha consensus: 6.9%; ODDO BHF: 6.8%), though this was offset by more negative forex effects than expected. On-premises software surprised on the upside, with a decline of 4% cc (licences -24% cc and support -1% cc),...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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