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SAP confirms raised outlook, Q3 results -Breaking

by Mike Robinson

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© Reuters. You can find the SAP logo on their office in Reston Virginia. May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly

BERLIN (Reuters), SAP Thursday stated that demand is growing for its cloud database as it confirmed third quarter results and guidance for the full year. The announcement was made by SAP, a German software company.

SAP reported that its current backlog in cloud business data S/4HANA rose by 60% to 1.28Billion euros ($1.49Billion) in the third quarter. Additionally, it claimed 500 S/4HANA customers were added during this period.

According to the company, its cloud revenue is expected to rise by between 16%-19% over the whole of 2018, allowing for an overall increase in cloud and software revenues of 2%-4%.

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