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Cloud bolsters Q1 results at SAP Brazil

Demand from retail and agribusiness sectors improves sales performance

SAP's Brazil subsidiary has managed to double its sales of cloud-based products in the first quarter of 2017, the software giant reported last week.

Noteworthy industry sectors for the company over the period in Brazil were retail and agribusiness, each driving a three digit increase in sales.

SAP Brazil has also boosted its overall client portfolio in the first three months of the year, with a 50 percent increase in new accounts at firms from sectors ranging from chemicals to cellulose.

The same kind of growth was reported across the company's products HANA Enterprise Cloud (HEC) and SAP HANA itself, as well as other products such as HR platform SAP SuccessFactors and procurement tool SAP Ariba.

However, the Brazilian arm of the company says that on-premise products enjoyed a sales boost above three digits, with demand stemming particularly from insurance firms and the public sector.

In the company's Q1 2017 financial report, ending March 31, SAP reported first quarter revenue of €5.285 billion, or $0.64 per share -- an increase of 12 percent year-on-year.

The global results fell short of analysts expectations who had expected operating profit of €1.229 billion in this quarter.