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SAP reports 28% jump in Q4 cloud revenue as more customers shift to cloud By Reuters

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

(Reuters) – German business software group SAP on Thursday reported a 28% revenue increase in its cloud business in the fourth quarter, as the growth of its cloud business database accelerated with more customers shifting their IT operations to the cloud.

SAP cloud revenue rose 28% to 2.61 billion euros ($2.99 billion) in the fourth quarter ended Dec. 31, the company reported in a preliminary earnings statement on Thursday.

($1 = 0.8731 euros)

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