SAP has announced it has hit every revenue and profit target across FY 2019 with a total revenue of €27.5bn, up 12 percent year-on-year.
The company reported a 25 percent increase in new cloud bookings in FY 2019 to €2.2bn. Its overall cloud revenue was €6.9bn, an increase of 39 percent year-on-year.
Commenting on the results, co-CEOs Jennifer Morgan and Christian Klein said: “SAP’s strategy to be the experience company powered by the intelligent enterprise is resonating. More and more customers are turning to SAP and Qualtrics to close their experience gap.”