SAP reports strong revenue growth from HANA and cloud

October 21, 2013

SAP reported strong revenue growth in its HANA in-memory database and cloud businesses, but also saw revenue from software decline in the third quarter.The company said Monday that its revenue in the quarter was up 2 percent year-on-year to €4 billion (US$5.4 billion), according to IFRS (international financial reporting standards). Profit soared 23 percent to €762 million.Software revenue, however, fell 5 percent from the same quarter last year to €975 million, even as cloud subscriptions and support grew by a whopping 203 percent to €191 million. Support revenue grew by 4 percent to a little over €2 billion, while overall software and software-related service revenue grew 5 percent year-on-year to about €3.4 billion.SAP said it is well on its way to reach €1 billion in HANA software revenue since market launch about two years ago. In the quarter, HANA software revenue was up 79 percent at actual currencies to €149 million, and over 2,100 customers. Competitor Oracle announced in September an upcoming in-memory option for its recently released 12c database.To read this article in full or to leave a comment, please click here

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