Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
Net profit of German SAP in the first quarter leaps by 36%
The net profit of German SAP SE, the world's number one producer of software for enterprise management, tacked on by 36% in the first quarter of 2018, hitting 708 million euros versus 521 million euros for the same period of 2017.
As reported in the company's press release, operating income leapt by 52% ending up with 1.03 billion euros.
The company's revenue in the past quarter declined slightly, demonstrating an outcome of 5.26 billion euros versus 5.29 billion euros.
The total SAP revenue from the subscription to cloud services as well as support for such products in January-March rallied by 18% ending up with a result of 1.1 billion euros.
New orders for cloud services SAP, which is a major key indicator of the success of this line of business, inched up by 25%, hitting 245 million euros. Nevertheless, taking into account currency fluctuations, the surge rate accounted for 14%.
Revenue from the sale of software went down by 10% coming up with 625 million euros.
The number of subscribers of the analytical database HANA, which is the flagship product of SAP, in the first quarter increased by approximately 400 getting to 8.3 thousand subscribers.
In January, SAP reported the acquisition of Callidus Software for up to $2.4 billion. This deal was closed, and as a result, the company ramped up its forecast of revenue from the subscription to cloud services and also support of such services from about 4.8-5 billion euros to 4.95- 5,15 billion euros. The indicator is provided without taking into account currency fluctuations as well as assumes a jump of 31% compared to the previous year.
The forecast of total revenue inched up to about 24.8-25.3 billion euros, while operating profit reached 7.35-7.5 billion euros.
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3).
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).