Business software maker SAP's cloud business revenue rose by 16 percent in the third quarter on the back of its application services and HANA software, the company said on Wednesday.
SAP's cloud revenue stood at 3.47 billion euros (S$5.02 billion) in the quarter, helped by the growth of its combined software-as-a-service (SaaS) and platform-as-a-service (PaaS) portfolio, and its premium enterprise resource software platform, S/4 HANA.
The company reaffirmed its cloud revenue outlook for the entire year from 14 billion euros to 14.2 billion euros.
"Our Q3 results demonstrate strong execution and the resilience of our business, including sustained cloud growth in spite of persisting macro headwinds," finance chief Dominik Asam said.
US-listed shares of the German software maker were up 2.9 percent after the bell.
