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SAP reports 28% jump in Q4 cloud revenue as more customers shift to cloud -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: SAP logo in Walldorf at the headquarters of SAP, Germany. January 24, 2017. REUTERS/Ralph Orlowski

(Reuters). German business software giant SAP announced Thursday a 28% rise in revenues in its fourth quarter. The increase was driven by the rapid growth of SAP’s cloud business database and increased customer migrations to the cloud.

In a preliminary earnings report on Thursday, SAP announced that its cloud revenues increased 28% to 2,61 billion euro ($2.99billion) for the quarter ending December 31.

($1 = 0.8731 euros)

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