The Germany-based software company this week said cloud revenue in the Americas was up by 26 percent with the United States and Germany having “outstanding cloud revenue performance.” Net income dropped to approximately $403.6 million, off 38 percent from last year’s corresponding period. Overall revenue reached about $7.79 billion, an increase of 15 percent over a year ago, 5 percent in constant currency. As would be expected in the cloud era, license revenue dropped by 38 percent to approximately $403.6 million. Revenue for S/4 Hana hit about $451.7 million, an increase of 98 percent, 81 percent in constant currency. CFO Luca Mucic said the company will probably see slightly lower growth in the current quarter. While the fourth quarter is normally the largest for license revenue, SAP expects that the downward trend will continue. Mucic said given that trend the company expects “to arrive at the lower end of our combined cloud and software revenue guidance” for 2022’s final period. Mucic noted that Concur, which makes travel management software, “is recovering nicely” from the impact of the Covid-19 pandemic on corporate travel. He continued, “that business will definitely exceed its pre-pandemic state next year as we had projected.”