No, it was not a “fantastic quarter”, as CEO Christian Klein says.
Only optimists will also agree that SAP, Europe's largest software company, is increasing its forecast.
In fact, the announced increase is one in homeopathic doses, little more than a rounding difference.
Observers should understandably classify the fact that Klein still speaks of “fantastic”.
He needs to inspire his Anglo-Saxon financiers.
He has already increased the satisfaction of German-speaking customers.
However, since the strategy reversal in November and the new focus on integration, investors have remained skeptical.
As soon as it is 50 years old, SAP, a dinosaur in the IT industry, still wants to be rated as a growth company.
Anyone who is dragging a shrinking old business with them, however, has to be able to show a very rapidly growing new business.
The cloud revenues, which were decisive for the war, have again grown significantly by 11 percent, but the bottom line is that revenues have fallen by one percent.
Some things really work under Klein.
But it's not fantastic yet.