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SAP Co-CEO Bill McDermott on the company’s double-digit growth globally and the impact on the company from the European debt crisis.
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And during the midst of the European crisis this next company made a huge bet on of all places Europe and guess what.
It paid off SAT is a software giant for businesses it reported its best second quarter performance ever this morning.
Joining us now live -- -- CEO bill McDermott from the US headquarters in Newtown square.
Pennsylvania.
Bill it's it's an incredible story and and over and over you guys have told -- here on Fox Business that you continue to have record earnings but let me drill down to a couple of various.
You would double digit percentage -- software -- revenues across the board but specifically.
Europe Middle East and Africa you package that together can you break out Europe sales for me.
Yes you -- on Europe was up 22%.
The -- on a year over year basis.
And even in Southern Europe we saw growth so.
The entire continent just came -- so strong -- is amazing about the quarter is every region in the world was up -- strong double digits.
And we like to think that it's the customer driven innovation conversation.
Are around mobile the cloud in the real time enterprises we've discussed on numerous occasions -- change in the game.
I mean night live look seven ways to Sunday a way to beat you up bill I really tick -- expect very far and I have but outlook -- get to a macro picture than.
Moody's for example the ratings agency not that there are always right because we know they've been late on stuff.
They have downgraded Germany they downgraded Germany's outlook to negative you worried chairmen based company although of course you have another headquarters here in the United States.
Do you just want to shake it Angola Merkel shoulders of running Germany and say stop holding out do something here.
Because the longer she waits the more expensive it gets to save the Euro zone.
Well I think to some extent maybe if they're downgrade were to happen it would be indicative of Germany trying to be more helpful.
And that might be good for the EU and its totality in fact one of the things I noticed when the US went through -- downgrade not the have a like to see that.
Our business actually jumped ten points -- growth so these things in the macroeconomic.
Scenario.
In the uncertain times that we're in now are gonna take place what we try to do with our company.
Is focus on what we can do to help companies run like never before and stay focused on the prize.
And no matter what the -- say we never take the attitude you know let's put put our feet up on the desk -- -- things are bad out there.
On the contrary we know our customers need us.
Whether they're tough times are good times they may need to.
Take cost the equation be more efficient or they may need to grow and get more in touch with their consumer especially with the mole bile.
And this is what we're all about how do we help companies run better.
Connect with their customer refine their supply chain and deliver results for their shareholders and that is what we're doing was.
I know what I can see that so it must be really frustrating to you bill and your co CEO that the stock is pretty much flat year over year and here you have.
Record quarters over and over again what is Wall Street what -- -- investor getting brought about you.
Well I actually do agree with zero RE I feel that way you're right because the company -- perform so well.
The free cash flow the strong balance sheet.
The innovation in the future growth potential of the company but if you look at us in our category.
We actually have.
A higher.
Beta than most companies in our peer group so I think it's just in general most of our peer group is way down.
And actually in an uncertain environment -- more than holding our -- -- you look at it that way.
-- hang in there but.
You know like you said.
We deserve to be rewarded for the performance so we're gonna give ourselves a good pat on the back today we have 61000 people that did a terrific job.
Yeah they sure did and I believe thirteen thousand or so our US employs good to see thank you bill very much.
Thank you very much -- take good care of yourself -- -- bill McDermott is the co CEO of -- -- that's got to be so frustrating we hear this by the way from a lot of CEOs are doing everything right there XQ been.
But the stock isn't reflecting it may be one it will you wanna buy low sell high -- -- -- told gone.
