Walldorf’s SAP reports 28% jump in Q4 cloud revenues, projects 26% growth in ‘22

German software industry giant SAP SE had reported a 28 per cent leapfrog in fourth-quarter cloud revenues

by Sourav D
Walldorf’s SAP reports 28% jump in Q4 cloud revenues, projects 26% growth in ‘22

SAP SE, the Walldorf, Germany-headquartered software industry giant that largely focuses on business operations and customer relations, had told in a statement on Thursday that its cloud computing unit’s fourth quarter revenues had soared as much as 28 per cent, as more consumers appear to be switching their IT operations into cloud databases.

According to SAP SE, the German software industry giant’s cloud revenues jumped as much as €2.61 billion over fourth quarter of 2021 that ended of December 31, while SAP SE had projected its cloud revenues would grow by 26 per cent over 2022 and revenues from its overall software and cloud business would climb between 4 to 6 per cent.

Meanwhile, addressing to an amelioration in SAP SE’s customer growth, the company Chief Executive Christian Klein said in a statement, “More and more companies are choosing SAP to help them ...

build resilient supply chains and become sustainable enterprises as they move to the cloud. Besides, according to a preliminary finding, SAP SE had witnessed a 6 per cent increase in total revenues over Q4, 2021 that ended on December 31 as beforementioned, while the company net income rose 10 per cent to €1.86 per share.

SAP SE is expected to publish its full fourth-quarter result by January 27.

SAP SE scores robust growth over Q4, 2021, announces share buyback

On top of that, SAP SE also had announced a €1 billion worth of share buyback program.

Nevertheless, despite reveal of an upbeat initial report on its Q4, 2021 earnings, Frankfurt-listed shares’ prices of SAP SE were trading about 1 per cent lower to €119.34 apiece on Friday’s late-afternoon trading.