Category: Business
SAP reported a 25% increase in second-quarter cloud revenue, reaching 4.15 billion euros, driven by strong demand for its business planning software.
Keywords: SAP, cloud revenue, business planning software
Source: WTAQ
Update At: 7/23/2024
SAP shares surged 7% to an all-time high following a strong quarterly report, with operating profit rising 33% to 1.94 billion euros. The company is restructuring, affecting 9,000 to 10,000 positions, while focusing on AI skills training. Total revenue increased by 10% to 8.29 billion euros, surpassing analyst expectations.
Yahoo Finance
SAP SE shares increased significantly following a report of a 25% rise in cloud revenue, driven by demand for AI services from corporate customers.
Bloomberg
SAP has raised its 2025 operating profit target to €10.2 billion, reflecting efficiency gains from its AI-focused restructuring program. The company expects to retrain or see 9,000 to 10,000 employees leave as it shifts focus to Business AI and other strategic areas. SAP's cloud revenue grew 25% year over year, indicating strong growth momentum despite industry volatility.
PYMNTS.com
SAP reported fiscal second-quarter results exceeding Wall Street estimates, driven by strong demand for its cloud and artificial intelligence offerings. Adjusted earnings were €1.10 per share on revenue of €8.29B, with cloud revenue increasing by 10% year on year. The company maintains its full-year outlook for adjusted operating profit and cloud revenue.
Investing.com
United Parcel Service experienced a decline in second-quarter earnings due to lower package delivery demand and increased costs from its Teamsters labor contract, reporting an adjusted profit of $1.79 per share compared to $2.54 a year ago.
marketscreener.com
UPS reported second-quarter 2024 consolidated revenues of $21.8 billion, a 1.1% decrease from the previous year, with diluted EPS at $1.65 and adjusted diluted EPS at $1.79. The company experienced a significant decline in operating profit, down 30.1% year-over-year, but noted a return to volume growth in the U.S. for the first time in nine quarters. UPS updated its full-year financial targets and emphasized its commitment to operational efficiency and growth moving forward.
United Parcel Service Inc. reported second-quarter earnings of $1.79 per share, falling short of Wall Street's estimate of $1.98 per share, amid challenges from wage inflation and decreased package demand.
Bloomberg.com
United Parcel Service (UPS) reported second-quarter earnings that fell short of Wall Street expectations, with an adjusted profit of $1.79 per share compared to estimates of $1.99. The company also lowered its full-year adjusted operating margin forecast to 9.4%. UPS has been cutting costs, including a plan to eliminate 12,000 jobs, and expects cost pressures to ease in the latter half of the year. Despite the earnings miss, UPS will replace FedEx as the primary expedited air service provider for the U.S. Postal Service in October.
Taru Mäkinen has been appointed as the new Chief Financial Officer of QPR Software Plc, starting in October. She has over 20 years of experience in financial management, previously serving as CFO at Casambi Technologies Oy and Efecte Plc. Mäkinen aims to support QPR's strategic objectives and enhance financial performance.
GlobeNewswire
Eppinger Technologies has appointed Lee Sweigart as Chief Financial Officer, who will oversee the company's global financial functions and strategic planning. With over 20 years of experience, he aims to support Eppinger's growth and integration with Techniks Tool Group. Eppinger specializes in high precision tooling solutions across various industries.
Business Wire