Business
SAP reports 28% jump in Q4 cloud computing revenue, targets 26% growth for 2022
Published by maria gbaf
Posted on January 14, 2022
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on January 14, 2022
2 min readLast updated: January 28, 2026
SAP's Q4 cloud revenue rose 28% to 2.61 billion euros. The company targets 26% growth in 2022 and announced a 1 billion euro share buyback.
(Reuters) -German business software group SAP on Thursday said fourth-quarter revenue from its cloud computing business jumped 28% as more customers shift their IT operations to its cloud business database.
Cloud revenue climbed to 2.61 billion euros ($2.99 billion) in the fourth quarter ended Dec. 31, the company reported in a preliminary earnings statement.
SAP is targeting cloud revenue growth of up to 26% in 2022, helping its overall cloud and software revenue rise 4-6%, it said.
“More and more companies are choosing SAP to help them … build resilient supply chains and become sustainable enterprises as they move to the cloud,” Chief Executive Officer Christian Klein said in a statement.
The company saw a 6% year-on-year increase in total revenue for the quarter ended December to 7.98 billion euros, while adjusted earnings per share rose 10% to 1.86 euros.
SAP is expected to release full results on Jan. 27.
Separately, the company also announced a new 1 billion euro share repurchase programme, to be carried out in the period between Feb. 1 and Dec. 31, 2022.
($1 = 0.8731 euros)
(Reporting by Radhika Anilkumar and Bhargav Acharya in Bengaluru; Editing by Chris Reese and Kenneth Maxwell)
The main topic is SAP's reported increase in Q4 cloud revenue and its growth targets for 2022.
SAP aims for a 26% growth in cloud revenue in 2022, contributing to a 4-6% rise in overall cloud and software revenue.
SAP announced a new 1 billion euro share repurchase programme for 2022.
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