January 17, 2022

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.