SAP CEO says cloud business could beat 2015 targets

Europe's biggest software company SAP on Tuesday confirmed its strong third-quarter results and said its newer Internet-based cloud business could top full-year targets in the fourth quarter, the software company's most important period. "The reason why we didn't raise the guidance is because it is an annual guidance (target) and the biggest part of the annual operating plan is still to be determined based on our fourth-quarter execution," Chief Executive Bill McDermott said.