The logo of the German software company SAP can be seen on May 12, 2016 at the headquarters in Walldorf.

Ralph Orlowski | Reuters

German software giant JUICE saw a surge in revenue from its fast-growing cloud unit on Thursday that helped drive the company’s earnings performance in the third quarter.

SAP’s cloud revenue was around $ 2.4 billion in the third quarter.

Adjusted total revenue was € 6.8 billion, up 5% year over year, supported by growth in the cloud, while adjusted earnings per share were thanks to profitable start-up betting at spin-off Sapphire Ventures rose by 2% to 1.74 euros.

Last year, SAP outlined plans for a major shift from on-premise IT infrastructure to remote cloud computing facilities. SAP’s renewed focus on the cloud has posed a challenge to business software competitors such as Foreclosure and oracle.

SAP shares climbed 0.7% when …

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