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SAP Grows Cloud Revenue by 45%

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SAP’s revenue from cloud services has grown by 45% year-on-year. Cloud subscriptions and support accounted for revenue of €277m for the software giant in the third quarter of 2014, up from €191m in the same quarter last year.

But the German software giant saw a continued decline in revenue from software services, down by 2% year-on-year from €975m in the third quarter of 2013 to €951m in this year’s third quarter.

Total revenue for the quarter was up 5% year-on-year to €4.3bn, while post-tax profit was up 16% to €881m.

“We are accelerating our shift to the cloud with more than 40% revenue growth in the cloud,” said SAP CEO Bill McDermott.

SAP is the cloud company powered by Hana, helping customers run simple, with more than 44 million cloud users and the world’s largest business network,” he said.

SOURCE: computerweekly.com

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