The German software manufacturer SAP reported on Tuesday a 36 percent increase in net profit in the first quarter of this year compared to the previous year and raised its profit and revenue estimates for 2018.
The net profit of this software giant reached 708 million euros in the first three months of this year. At the same time, its total revenues slightly decreased, slipping to 5.26 billion euros, down from 5.29 billion euros achieved in the same period last year, according to the business report of this German company, which has been present in Croatia for years.
>>>SAP Increased Revenue and Profit in 2017 Thanks to Cloud Services
SAP emphasizes that cloud service bookings increased by 25 percent in the first quarter, reaching 245 million euros. Revenues in the cloud business segment grew by 18 percent, reaching 1.07 billion euros.
This largest European technology company by market value also raised its profit and revenue estimates for 2018, which include the acquisition of the American software sales company Callidus. The acquisition, valued at 2.4 billion dollars, was announced in January of this year.
