SAP Q3 Profit Rises

(RTTNews) - German software major SAP AG (SAP) Wednesday reported third-quarter results, with both profit and revenues increasing from last year.

Profit after tax for the quarter rose to 1.27 billion euros from 547 million euros last year. On a per share basis, earnings for the quarter were 1.08 euros, above the 0.57 euros reported last year.

Total revenues for the quarter rose 4% to 7.74 billion euros from 7.48 billion euros last year.

The current cloud backlog grew by 19% to 12.27 billion euros and was up 25% at constant currencies.

In the third quarter, cloud revenue was up 16% to 3.47 billion euros and up 23% at constant currencies, mainly driven by the growth of SAP's combined SaaS and PaaS portfolio, which was up 19% and up 26% at constant currencies.