Business
SAP’s cloud business drives quarterly results, raised outlook
Published by maria gbaf
Posted on October 21, 2021
2 min readLast updated: January 29, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on October 21, 2021
2 min readLast updated: January 29, 2026
SAP's cloud business growth boosts quarterly results, raising its financial outlook with significant increases in cloud revenue and backlog.
BERLIN (Reuters) -SAP said on Thursday that 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 last week.
The company had forecast 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%.
Cloud backlog for flagship database S/4HANA was up 58% at constant currencies and current cloud backlog – a measure of incoming business – grew 22% in the third quarter.
“Our cloud revenue now represents 35% of our total revenue and that’s driving up our share of more predictable revenue, which rose by three percentage points year over year to 77%,” Chief Financial Officer Luka Mucic said on a call with journalists.
SAP raised its forecast for cloud and software revenue for the full year by 200 million euros to 23.8 billion-24.2 billion euros.
Adjusted revenue rose 5% to 6.68 billion euros ($7.70 billion) for the third quarter ended Sept. 30, and adjusted earnings per share rose 2% to 1.74 euros, backed again by its profitable venture capital investments, Sapphire Ventures.
($1 = 0.8581 euros)
(Reporting by Nadine Schimroszik and Riham Alkousaa; Supantha Mukherjee in Stockholm, editing by John Revill and Kim Coghill)
The main topic is SAP's cloud business growth and its impact on quarterly financial results and outlook.
SAP's cloud backlog for S/4HANA grew by 58% at constant currencies.
SAP forecasts cloud revenue to grow by 16%-19% for the year.
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