SAP benefits from cloud

SAP benefits from cloud

Tech October 13, 2015 12:15

- Software company SAP in the third quarter grow its profit and revenue , driven by good performance in its cloud services . That turned out Tuesday . The German technology company also benefited from renewed demand for its financial management software.

SAP realized an operating profit of 1.6 billion euros, 19 percent more than a year earlier. Revenues thickness by 17 percent to almost 5 billion. Thus the company managed to beat expectations of market experts. They settled into an average result of 1.5 billion euros and a turnover of 4.9 billion euros.

Revenue from cloud subscriptions and support services more than doubled in the quarter to 600 million euros. Revenues from software licenses, which are under pressure across the industry rose by 4 percent to just over one billion euros. CFO Luka Mucic said in a statement that both the growth of cloud services as licenses ,, mainly were driven by excellent results in adult marktenÂ'. In emerging markets, the market is heavier.

SAP reiterated Tuesday its financial targets for 2015, including an operating profit between 5.6 billion and 5.9 billion euros. The company also announced the French software Multiposting to acquire, for an undisclosed sum of money.

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