SAP Cloud Revenue Rises 25% in Quarter as Legacy Clients Switch

(Bloomberg) — SAP SE said its cloud revenue grew by 25% in the third quarter, as Europe’s biggest software company pushed customers to transition away from locally-installed legacy systems.

Cloud revenue rose from a year earlier to €4.35 billion ($4.7 billion), the Walldorf, Germany-based company said in a statement on Monday. That compares with the average estimate of €4.36 billion of analysts surveyed by Bloomberg.