“Year to date we are tracking to the upper end of all outlook metrics set at the beginning of the year. Paired with a robust pipeline, this gives us the confidence that we will deliver yet another strong fourth quarter.”
The company said in a statement: “SAP is outpacing its main competitor in cloud and software revenue growth.”
SAP added over 400 SAP S/4HANA customers in the quarter, of which nearly 40% are net new customers.
It said that the HANA Cloud Platform is instrumental in the Internet of Things (IoT) revolution by offering connectivity to a large variety of devices and machines.
SAP CEO Bill McDermott said: “Strong customer adoption of the SAP portfolio is driving results beyond expectations. The S/4HANA innovation cycle is the fastest in our history and is catalyzing the performance of all SAP cloud solutions.”
The company reported a 6% increase in its cloud and software revenue from the EMEA region, while it grew 9% in the Americas region.
It witnessed double-digit growth in software licenses revenue in Brazil and Mexico despite continued macroeconomic headwinds.