martes, 28 de enero de 2020

Qualtrics’ Euro parent SAP earned over $30B last year, but stock slides on missed projections

SAP CEO Bill McDermott and Qualtrics CEO Ryan Smith speak at the Silicon Slopes Tech Summit at the Salt Palace Convention Center in Salt Lake City on Thursday, Jan. 31, 2019. SAP CEO Bill McDermott and Qualtrics CEO Ryan Smith speak at the Silicon Slopes Tech Summit at the Salt Palace Convention Center in Salt Lake City on Thursday, Jan. 31, 2019. | Kristin Murphy, Deseret News

PROVO — Qualtrics parent company and European tech giant SAP issued a mostly glowing earnings report Tuesday, including 2019 revenues that exceeded $30 billion, a mark that outpaced 2018 figures by some 12%.

But performance of the company’s cloud-based businesses slightly undershot projections and investor concerns were reflected in an almost 3% stock drop by the end of regular trading Tuesday.

The fiscal report follows a change in SAP leadership last October that saw longtime CEO Bill McDermott stepping down and the ascension of existing executives Christian Klein and Jennifer Morgan into co-CEO positions.

Provo-based customer experience innovator Qualtrics was acquired by SAP in an $8 billion deal announced in late 2018. Following the first year of having the company part of the SAP portfolio of businesses, Morgan lauded Qualtrics’ performance.

“We have been really pleased, when you look at what’s happened over the last year,” Morgan said. “Qualtrics has done an incredible job in landing and expanding in over 11,000 accounts. They have built an incredible customer base in their own right and we’re just starting to see it move over into the SAP customer base.”

That “land and expand” approach has been a modus operandi for Qualtrics in 2019, which included the company announcing plans in November to double the size of its Provo headquarters while also adding a 40,000 square foot child care facility that company co-founder and CEO Ryan Smith said would be the “MIT” of day cares.

Last year saw Qualtrics announcing a series of new offices and expansions around the world. In September, the company unveiled the Qualtrics Tower co-headquarters project in Seattle which spans 275,000 square feet and will become the eventual home for more than 2,000 employees. In October, Qualtrics announced a new office building in Dublin where the company will create 350 additional jobs, doubling the number of employees in that region to more than 700. And in November, the company announced a new 25,000-square-foot office in Chicago that will house 200 employees along the city’s riverfront.

The company currently has 25 offices around the world with over 3,000 employees and plans to grow to more than 8,000 employees by 2023. Qualtrics serves more than 11,000 organizations in over 100 countries.

In a joint statement, Morgan and Klein predicted the Qualtrics’ acquisition would continue to bear benefits for SAP.

“SAP’s strategy to be the experience company powered by the intelligent enterprise is resonating,” the statement read. “More and more customers are turning to SAP and Qualtrics to close their experience gap.”

SAP has over 100,000 employees worldwide and is Europe’s largest tech company by market value, which was in excess of $160 billion at the end of the regular trading day on Tuesday.



from Deseret News https://ift.tt/2uESW4T

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