SAP confirms raised outlook, Q3 results
BERLIN, Oct 21 (Reuters) - SAP on Thursday said demand for its cloud business database was growing as the German business software group confirmed its preliminary third-quarter results and full year guidance which it raised earlier this month.
SAP said the current backlog from its cloud business database S/4HANA increased by 60% to 1.28 billion euros ($1.49 billion) in the third quarter, adding that it had won 500 S/4HANA new clients during the period.
The company said on Oct. 12 it expects its cloud revenue to grow by 16%-19% in the year as a whole, helping its overall cloud and software revenue to increase by 2%-4%. ($1 = 0.8581 euros) (Reporting by Nadine Schimroszik and Riham Alkousaa, editing by John Revill)
