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SAP confirms raised outlook, Q3 results

SAP confirms raised outlook, Q3 results

The logo of SAP is seen on their offices in Reston, Virginia, U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly

BERLIN: SAP on Thursday (Oct 21) said demand for its cloud business database was growing as the German business software group confirmed its preliminary third-quarter results and full year guidance which it raised earlier this month.

SAP said the current backlog from its cloud business database S/4HANA increased by 60 per cent to €1.28 billion (US$1.49 billion) in the third quarter, adding that it had won 500 S/4HANA new clients during the period.

The company said on Oct 12 it expects its cloud revenue to grow by 16 per cent to 19 per cent in the year as a whole, helping its overall cloud and software revenue to increase by 2 per cent to 4 per cent.

Source: Reuters/zl

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