SAP Earnings Show Strong Cloud Computing Growth

In its third quarter financial report, enterprise software vendor SAP reported that net profit climbed 2 percent year-over-year to reach ?898 million, thanks in part increases in its number of cloud computing subscribers.

The company also noted that its cloud computing and support revenue for the quarter had increased 100 percent to reach ?599 million. It expects that total cloud and support revenue for the year will be between ?1.95 billion and ?2.05 billion.

In addition, SAP announced that it now has 1,300 customers using its S/4HANA software, which relies on its real-time in-memory database.

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