SAP reports 28% jump in Q4 cloud computing revenue, targets 26% growth for 2022


FILE PHOTO SAP logo at SAP headquarters in Walldorf Germany January 24 2017.   REUTERSRalph Orlowski

FILE PHOTO: SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski

(Reuters) -German business software group SAP on Thursday said fourth-quarter revenue from its cloud computing business jumped 28% as more customers shift their IT operations to its cloud business database.

Cloud revenue climbed to 2.61 billion euros ($2.99 billion) in the fourth quarter ended Dec. 31, the company reported in a preliminary earnings statement.

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