The biggest software company in Europe, SAP, confirmed on Tuesday its strong 3rd-quarter results and said its newer Internet-based cloud business could top full-year targets in the 4th-quarter. The company posted a 19% rise in 3rd-quarter operating profit to 1.36 billion euros ($1.54 billion), confirming results it pre-announced last week. Bill McDermott, SAP’s chief executive said, “The reason why we didn’t raise the guidance is because it is an annual guidance (target) and the biggest part of the annual operating plan is still to be determined based on our fourth-quarter execution”.
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Prime News: SAP CEO says cloud business could beat 2015 targets
