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SAP reported mixed first-quarter 2018 results. While earnings surged on a year-over-year basis, revenues were flat. The EMEA region observed phenomenal growth in Cloud subscriptions and support revenues, particularly in Germany. The company’s resilient Cloud and Software business, an enviable business network spread and dominance over critical client demand areas continue to act as staple growth drivers. SAP has recorded spectacular growth in S/4HANA and other Cloud initiatives, which in turn, has provided a boost to financials. Solid adoption of the company’s human capital management applications, led by SuccessFactors Employee Central, is a key catalyst. However, shares have underperformed the industry on a year-to-date basis.

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