Forecast Of The Day: SAP’s Cloud Subscriptions Revenue
SAP (NYSE:SAP) reported its Q3 results earlier today. Its overall results were positive, with the company witnessing rapid growth in earnings and cash flow for Q3 2020. Non-IFRS Cloud revenue grew 10% YoY to EUR1.98B. However, Software licenses revenue was down 23% YoY to EUR0.71B (IFRS and non-IFRS). The company’s total gross margin was a strong 73.7% – representing a 1.4 percentage point improvement YoY.
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