New cloud bookings are a thing for SAP in Q3
But trad business dominates strong quarter
It's all about the cloud for SAP in its Q3, 2015 results announcement today, with the company posting cloud subscription and support revenues of €600m, up 116 per cent on last year - and a slightly less heady 90 per cent at constant currencies.
Even less heady, new acquisition Concur delivered €149m of the growth.
New cloud bookings were up 102 per cent to €216m - SAP says this is a key measurement of success in the cloud.
And quite right too, as there is no fudging provided by the strong-arm licensing and gold-plated support contracts so beloved by the enterprise software vendors.
Total revenue for the quarter climbed 17 per cent 4.98bn and operating profit was up 5 per cent to $1.21bn.
The revenue figure shows that SAP has a long way to effect a transition to complete cloudiness.
But this cautious and conservative company also displays its determination to build and buy its way into relevance for this SaaS-tastic age. ®