Fueled by strong sales of cloud-based software that more than offset a decline in revenue from on-premises applications, SAP revenue jumped in the third quarter compared to the year-earlier period.
Total revenue for the quarter ending Sept. 30 was €7.84 billion (US$7.72 billion), up 15%, according to company’s quarterly financial report, released Tuesday. SAP’s cloud and software revenue for the quarter rose 14% to €6.71 billion.
Cloud revenue alone rose 38% to €3.28 billion. Revenue for the company’s S/4HANA cloud-based ERP offering, in particular, nearly doubled, rising 98% to €546 million.