SAP Posts 28% Q4 Growth in Cloud Computing Revenue

Share post:

SAP is optimistic about its growth prospects as revenue from its cloud computing business rose by 28% in the fourth quarter, driven by customers moving their business to the cloud.

Cloud revenues rose to 2.61 billion Euros in the fourth quarter to December 31. SAP forecasts double-digit cloud revenue growth of 26% in 2022, which will allow cloud and software revenues to increase by 4-6% this year.

The company’s total revenue for the quarter ended Dec. 7 rose 6% year-on-year to 7.98 billion Euros, while adjusted earnings per share rose 10% to 1.86 Euros.

SAP will publish its full earnings report on January 27.

For more information, read the original story in Reuters. 

SUBSCRIBE NOW

Related articles

HP Settles Lawsuit Over Blocking Third-Party Ink With Printer Updates

HP has agreed to settle a class-action lawsuit accusing the company of disabling printers that used third-party ink...

Intel’s contract manufacturing hits setback with quality issues

Intel’s contract manufacturing business has encountered a major setback after silicon wafers produced for Broadcom failed to meet...

Dell has another major round of layoffs

Dell has initiated another round of layoffs, affecting a significant number of employees, including long-term company veterans. HR...

Intel to lay off Over 15,000 employees in major cost-cutting move

Intel has announced a significant downsizing of its workforce, laying off over 15,000 employees as part of a...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways