Germany's SAP tops cloud demand forecasts, holds yearly operating profit outlook

SAP SE

Today 21:20

Oct 21 (Reuters) - Europe's largest tech company SAP SAPG.DE on Wednesday reported a 26% rise in current cloud backlog at constant currencies to €24.14 billion ($27.11 billion), ahead of the 24-25% growth UBS had forecast, and said full-year cloud and cloud and software revenue would come in at the upper end of its outlook ranges. 
Cloud revenue rose 26% to €6.67 billion in the third quarter and non-IFRS operating profit rose 18% to €3.03 billion. SAP kept its yearly operating profit outlook of €11.8 billion to €12.2 billion at constant currencies.
($1 = 0.8903 euros)

 (Reporting by Leo Marchandon in Gdansk; Editing by Daniel Wallis)
 ((leo.marchandon@thomsonreuters.com))