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 …