Cloud Subscriptions Soar as SAP Achieves 2014 Guidance

The company reported outsized growth rates in cloud revenues on the back of Fieldglass and Concur acquisitions. It was also able to achieve its revised operating profit guidance despite transitioning to a ratable revenue model from the erstwhile upfront booking model. Total non-IFRS revenues for the year were ?17.6 billion, representing a 4% year-on-year growth rate.