Business software maker SAP on Friday reported first-quarter revenue above analysts' expectations, backed by growth in its cloud business but lowered its outlook for the year due to the divestment of its Qualtrics unit.
The logo of German software group SAP is pictured at the headquarters of SAP AG in Regensdorf, Switzerland January 22, 2021. REUTERS/Arnd Wiegmannon Friday reported first-quarter revenue above analysts' expectations, backed by growth in its cloud business but lowered its outlook for the year due to the divestment of its Qualtrics unit.
While tougher economic conditions have riled big technology companies, SAP has still been able to grow its revenue by 10% in the first quarter to 7.44 billion euros , beating a company-provided consensus.
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