SAP Announces First Quarter 2014 Earnings

© SAP AG / Stephan Daub

© SAP AG / Stephan Daub

WALLDORF — SAP AG today announced its financial results for the first quarter, ended March 31, 2014.

SAP is successfully transitioning to the cloud demonstrated by fast growth in cloud and a solid performance in the core business, which drove revenue growth in the first quarter 2014. Non-IFRS cloud subscriptions and support revenue increased 38% at constant currencies (32% at actual currencies). Non-IFRS software and support revenue increased 7% at constant currencies (2% at actual currencies). Non-IFRS software and software-related service revenue grew 9% at constant currencies (4% at actual currencies).

“We are well on our way to becoming THE cloud company powered by SAP HANA with fast growth in the cloud and broad adoption of SAP HANA as the real-time business platform,” said Bill McDermott and Jim Hagemann Snabe, Co-CEOs of SAP. “We offer our entire SAP Business Suite in the cloud and are leading the market with the most comprehensive end-to-end HR cloud solution. And our customers can manage all workers, goods and services through the world’s largest business network in the SAP Cloud.”

Read the press release.