Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
SAP co-CEO: Cloud computing growing strongly
Tuesday - 10/22/2013, 11:00am EDT
AP Business Writer
FRANKFURT, Germany (AP) -- Business software maker SAP's strong growth in cloud computing remains on track despite headwinds from a stronger euro, the co-CEO said Monday.
SAP's revenue from cloud computing -- where companies use software based at servers instead of at their own offices -- more than tripled in the third quarter, to 191 million euros ($261 million) from 63 million euros a year earlier. The business is smaller than SAP's older business installing and servicing software at companies. But the cloud part of the business is showing much faster growth.
"We said we'd be the cloud company," Bill McDermott told the Associated Press on Monday, emphasizing the word "the." ''We are the fastest growing cloud story in the enterprise software world."
SAP AG, headquartered in Walldorf, Germany, said net profit rose 23 percent to 762 million euros as revenue rose 2 percent to 4.045 billion euros. Net profit grew faster than top-line revenues in part because the company held down costs by restraining new hires. It had 66,061 fulltime workers at the end of the quarter, up only 380 from a year ago once businesses the company has acquired were discounted.
The company's shares rose 5.3 percent to 56.32 euros in late afternoon trading in Europe.
Revenue from the company's older, on-site software business slipped 5 percent to 975 million euros -- but grew 2 percent when excluding the impact of exchange rate shifts. The company stayed with its forecast for sales and profit for the full year.
"The euro is unbelievably strong and there's nothing operationally that we could do about that," McDermott said.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.