Kinzey Capital Management Sees SAP Cloud at Top of Range
SAP's third-quarter group revenue reaches a record $11.5 billion, but the more telling numbers sit inside its cloud business. Cloud revenue rises 26% year-on-year to $7.5 billion in the quarter, current cloud backlog climbs 28% year-on-year to $27 billion, and management expects full-year cloud revenue towards the top of its $28.9 billion to $29.3 billion range at constant currencies. Kinzey Capital Management Pte. Ltd. reads the result as a...
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