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October 20, 2015

Cloud pushes SAP Q3 profit up 19%

News: Firm says its on course to beat full year forecast.

By Charlotte Henry

SAP today announced results for Q3 and the nine month period ending September 2015. Non-IFRS Operating Profit was up 19% to €1.62bn, with total revenue reported at €4.9bn.

The firm saw cloud bookings rise 102%, with cloud revenue up 116% year on year. Total revenue from cloud and software was €4.1bn, with cloud subscriptions and support bringing in €599m.

"The cloud is important, but it’s important in the context of customer choice," Darren Roos, general manager EMEA north, told CBR.

"What we recognise is, as the global market becomes more competitive irrespective of whether you’re in financial services, or you’re in retail, or oil and gas, that customers have to be really agile.

"For them to be able to [be agile] it makes sense for them to be able to deploy their solutions wherever they want to deploy them."

Revenue from software licences and support was €3.52bn, while SAP S/4HANA continued to surge to more than 1,300 customers by the end of the third quarter across all industries and regions.

The firm reiterated its full year targets for 2015. It expects full-year 2015 non-IFRS operating profit to be between €5.6 billion and €5.9 billion, in constant currencies.

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In a call to journalists, CEO Bill McDemott said that the software giant may even beat its guidance for the full year. "We are feeling good. We certainly have a chance to outrun it and that is why we firmly reiterated," he said.

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