Last updated: October 21. 2013 10:36AM - 438 Views
Associated Press

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(AP) 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.

Associated Press
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