SAP meets Q4 revenue forecasts as cloud demand holds up

By Reuters   |   12 hours ago
SAP meets Q4 revenue forecasts as cloud demand holds up

Jan 29 - SAP on Thursday reported fourth-quarter revenue that met market estimates, as resilient demand for its cloud software and services suggested enterprise spending held up despite a cooling global economy.

The company reported total revenue of 9.7 billion euros ($11.6 billion) for the quarter, in line with a company-compiled consensus.

Cloud revenue for the fourth quarter came in at 5.6 billion euros versus a consensus of 5.5 billion euros.

($1 = 0.8341 euros)

(Reporting by Leo Marchandon and Tristan Veyet in Gdansk)

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