SAP Software developer records higher profits

The German software giant SAP has recorded a much higher profit in the past quarter. Profit growth was accompanied by a higher turnover, especially in the cloud division of the company. SAP also announced that it has entered into a partnership with the American tech company Microsoft.

The net profit of the company was 28 percent higher at 1.3 billion euros. Turnover increased by 13 percent to 7.8 billion euros. Turnover growth of 37 percent was achieved in the division where the cloud services fall.

According to Jennifer Morgan and Christian Klein, who are currently in charge of SAP after the departure of Bill McDermott, it is important to continue the good results. They talk to investors next month about the direction to be sailed. Then more is also known about any share buy-back programs. The company also promised to work on reducing the debt position.

The deal with Microsoft involves cloud services from the companies. Among other things, SAP components become available on the Microsoft platform Azure. The aim of joining forces is, among other things, to simplify the integration of SAP applications.