FRANKFURT, Germany — The co-CEO of business software maker SAP AG says the company's strong growth in cloud computing remains on track — despite headwinds from a stronger euro.
Bill McDermott told the Associated Press on Monday that SAP "is the fastest growing cloud story in the enterprise software world."
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.
Net profit rose 23 percent. Revenue from the company's older, on-site software business slipped 5 percent — but grew 2 percent when excluding the impact of exchange rate shifts.
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