SAP -3% following a Q1 revenue miss highlighted by by a drop in software license growth to 5%...

|About: SAP AG (SAP)|By:, SA News Editor
SAP -3% following a Q1 revenue miss highlighted by by a drop in software license growth to 5% Y/Y from Q4's 9%. Likewise, high-margin support revenue grew 8%, down from Q4's 12%. On the bright side, Hana sales (a part of license revenue) rose 3x to €86M, and cloud subscription/support sales (boosted by acquisitions) rose to €167M from a mere €35M a year ago, with backlog up to €800M. Consulting revenue -7%. Asia-Pac license/cloud subscription sales declined Y/Y, with SAP hinting China/Japan were responsible. The report follows weak software numbers from Oracle, Red Hat, and IBM.