SAP shows healthy HANA, cloud growth in Q3 results

Software giant SAP announced a strong third quarter Monday as it continues to grow its cloud subscriptions and HANA in-memory platform. But the company also noted that sales of traditional software, as well as the performance of its consulting business, slipped in Q3.SAP posted double-digit growth in net profit, which rose 23 per cent to €762 million, with strong growth in per-share earnings in the quarter ending September 30th. Cloud subscription revenue surpassed the €1bn mark to hit €1.17bn, growing six per cent in the third quarter (adjusted for actual currencies), while revenue from its HANA in-memory database grew 79 per cent to €149 million.