Currency Tailwinds Expected to Lift SAP's Q2 Results, But Tough Times Lie Ahead?

European software giant SAP SE is set to report its fiscal 2015 second quarter earnings on July 21st. The company reported strong first quarter results, in which rapid cloud growth was buoyed by favorable foreign exchange movements. We expect this trend to continue in the second quarter as the traction in cloud bookings is likely to continue in the near term. However, cloud computing major Salesforce.com recently announced plans to expand in Germany, bringing the fight to SAP's home ground. Cons...