SAP Sees 2016 Sales on Track After Sluggish Start to Year
- U.S. had 'slower start' to the year, CFO said in interview
- Finance chief Mucic said no large acquisitions on horizon
This article is for subscribers only.
SAP SE said it has “high visibility into a strong second quarter” as the company seeks to make up for a software-license slump that led to unexpectedly sluggish sales at the outset of the year.
Revenue from licenses, support and cloud computing subscriptions rose 4 percent in North and South America, hurt by performance in Brazil and the U.S., SAP said in a statement Wednesday. The German software maker is looking to boost growth after first-quarter sales rose less than analysts expected as some contracts fell through. SAP on April 8 reported preliminary figures and cited political and economic instability in Latin American, particularly in Brazil.