SAP CEO Bill McDermott says the Germany based business software giant is doing well and will retain the revenue outlook for the current year.
The business software major today said its revenue grew 5 percent to €4,727 million in the first quarter of 2016 fuelled by growth in its cloud business.
New cloud bookings grew 23 percent to €145 million.
The total of cloud subscriptions & support revenue and software support revenue reached 69 percent share of total revenue in the first quarter 2016.
Cloud and software revenue rose 5 percent to €3.85 billion.
“Our pipeline is strong across our entire portfolio and we are confidently reiterating our guidance for the full year,” said SAP CEO Bill McDermott.
SAP added more than 500 SAP S/4HANA customers in the first quarter, of which approximately 30 percent are net new SAP customers. Companies such as Benetton, Norton Rose Fulbright, Beiqi Foton Motor and Huaxin Cement selected SAP S/4HANA in the first quarter.
The customer count for SAP SuccessFactors Employee Central, which is the core of our Human Capital Management offerings, exceeded 1,100 at the end of the first quarter.
Customer Engagement and Commerce (CEC) cloud subscription and support revenue saw strong double-digit growth in the first quarter.
Approximately 2.1 million connected companies trade over $800 billion of commerce on the Ariba network, approximately 40 million end users process travel and expenses with Concur and customers managed over 2.3 million workers in approximately 130 countries with the Fieldglass platform over the past 12 months.
Cloud and software revenue rose 8 percent in the EMEA region. Cloud subscriptions and support revenue grew 49 percent.
The revenue from cloud and software rose 4 percent and cloud subscriptions and support revenue grew 29 percent in the Americas region.
Cloud and software revenue increased 1 percent, while cloud subscriptions and support revenue grew 26 percent in the APJ region. SAP achieved double-digit software revenue growth in China.
