Despite delivering double digits earnings growth SAP saw its shares drop as it failed to deliver the numbers that investors had been expecting.
The German software maker delivered group revenues that increased by 12%, with software improving by 8% in the fourth quarter and cloud subscriptions and support showing a 2,000% on the same period last year.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
Operating profit did not grow as strongly but still climbed by 10% year-on-year in the fourth quarter to hit €1.96bn.
SAP Co-CEOs Bill McDermott and Jim Hagemann Snabe said that it had increased its cloud business rapidly and was expecting its recent decision to integrate Hana into its Business Suite would also deliver growth in its fiscal years 2013.
But the talk of growth and double-digit improvements didn't appease those who had been expecting the firm to deliver more than €5.06bn and perhaps emulate its great rival Oracle, which exceeded analyst expectations with its most recent set of results.