After strong growth in its cloud business boosted earnings and sales in the second quarter the German software giant, SAP confirmed its full-year agenda on Wednesday. In the period from April to June the net profit skyrocketed to 813 million euros ($896 million) which are about 73 percent hike. The figure a year earlier included restructuring costs and hence the figures this year might be partly attributable. The overall revenue is also pushed to 5.2 billion, which is about 5.4 percent hike thanks to the strong operating system performance with strong demand for the company’s cloud products.
A different way of delivering applications and services to customers and companies is the cloud computing. Rather on the client’s server, the programs are hosted in the cloud and delivered via broadband connection. This opens up new possibilities to tailor services to the exact need and the requirement for organizations to buy and maintain equipment is also reduced. SAP mentioned that the cloud business revenue has boosted by 30 percent to 720 million euros. Bill McDermott, chief executive boasted in a telephone news conference, “Our momentum cannot be any better”. He confidently confirmed the full year agenda while mentioning that the Britain’s decision for Brexit (Break and Exit) from the EU (European Union) is not going to make any difference in the SAP’s business.