Friday, July 22, 2016

SAP Second Quarter Earnings Shrug Off Brexit - InformationWeek

SAP Second Quarter Earnings Shrug Off Brexit - InformationWeek: "SAP second quarter earnings showed no sign of weakness from the recent Brexit vote in the UK. Instead, the company's revenue and earnings grew as SAP added new customers, particularly for its S/4 HANA platform. 10 ERP Players Shaping The Market (Click image for larger view and slideshow.) SAP's second-quarter results, announced Wednesday, were a welcome development for the German-based enterprise applications company. Like other tech giants such as Oracle, IBM, and HPE, SAP has been struggling with the growing pains of transitioning to cloud-based workloads and business models over the last few years. The company's CEO Bill McDermott told analysts during an earnings conference call (audio) that the company experienced double-digit growth in software, cloud, and operating income. Despite widespread concern, SAP executives said during the earnings call that the company had experienced no negative effects so far from the Brexit vote in the UK, which happened at the end of the quarter."