- Business software maker SAP's cloud business revenue rose by 16% in the third quarter on the back of its application services and HANA software, the company said on Wednesday.
SAP's cloud revenue stood at 3.47 billion euros in the quarter, helped by growth of its combined software-as-a-service and platform-as-a-service portfolio, and its premium enterprise resource software platform, S/4 HANA. For the full year, the company reaffirmed its cloud revenue outlook in the range of 14 billion-14.2 billion euros.
"Our Q3 results demonstrate strong execution and the resilience of our business, including sustained cloud growth in spite of persisting macro headwinds," finance chief Dominik Asam said.
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