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SAP's Cloud Sales Grow, But Fail to Meet Expectations

The enterprise software company's preliminary report disappointed investors.




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In preliminary guidance for investors, SAP reported that sales of its HANA cloud computing software were up 69 percent in 2013. While that may seem impressive, it failed to meet analyst expectations.

Overall, SAP's income rose 14 percent to 2.09 Euro in the fourth quarter, below the 2.1 billion Euro that investors had expected. The company's stock price fell after the report was released.

In the past, at least one analyst has accused SAP of misrepresenting its HANA sales, but others believed the company's figures were accurate.

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