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SAP Reports Rapidly Growing Cloud Computing Revenues

The software vendor says it will make more from cloud subscriptions than from software licenses by 2018.


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Enterprise software vendor SAP has reported that for 2015 it saw a 103 percent increase in new cloud computing bookings. The firm's cloud and software revenue grew 20 percent for the year to hit €2.30 billion. The company forecasts continued growth in cloud subscriptions, and said it expects cloud revenue will surpass its traditional licensing revenue by 2018.

SAP also said that its SAP S/4HANA customers doubled quarter over quarter, and it now has 2,700 organizations using the business suite that runs on SAP's in-memory platform.

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