SAP reported a 28% increase in cloud revenue in Q4. Due to this high achievement, SAP’s new goal is to boost revenue by 26% in 2022.
IT operating businesses are shifting their operations to SAP cloud databases, significantly boosting revenue. Therefore, in a 2021 closing preliminary earning statement, SAP reported that their revenue has climbed to 2.61 billion euros ($2.99 billion). The new goal is to obtain up to 26% growth by the end of 2022.
Resilient and sustainable with SAP?
As a high number of companies choose SAP as their primary cloud business database, it begs the question, what is attracting companies toward SAP? Chief Executive Officer of SAP Christian Klein said in a statement, “we are helping IT companies build resilient supply chains and become sustainable enterprises as they move to our cloud system.” Not a very insightful answer to the question, but the
Additionally, SAP offers easy integration across businesses and promotes customized, user-friendly ecosystem solutions. Users also have the option to choose between private and public cloud as SAP ensures its users have complete flexibility during software selection.
SAP profit report
SAP has not released its final profit report yet, but it is expected to be released on Jan. 27, 2022. According to the released information, SAP’s 6% year-on-year increase totaled 7.98 billion euros, ending in December.
Due to this boost in revenue, SAP shares value has also risen dramatically. Its share price has reached a 10% increase, closing its share value at 1.86 euros per share. SAP is also announcing a new 1 billion euro share repurchase program because of its past year’s success. The date for carrying out this program is Feb. 1 and Dec. 31, 2022, hoping their success streak will stay constant.