SAP thrives on cloud business, but strong euro a worry
Europe’s largest software maker, SAP, has reported its cloud business has been making big strides, with revenues and underlying profit rising. But a strong euro has once again dented quarterly earnings. Germany’s SAP reported Thursday it had been able to expand its thriving licensed software business in the first quarter of the year. Turnover from its cloud-based applications rose by 32 percent year-on-year to 221 million euros ($305.8 million). The Walldorf-based company indicated growth prospects for the segment were still huge, with SAP’s cloud business only accounting for some 6 percent of…
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