SAP , Europe's largest software maker, said on Tuesday it was more optimistic about its financial results this year due to accelerating growth in revenue from cloud computing.

SAP stock declined after reporting Q4 results, with adjusted EPS of $1.49 and revenue of $10B, beating analyst expectations. Cloud revenue was up 27%.

SAP, Europe's largest software maker, said on Tuesday it was more optimistic about its financial results this year due to accelerating growth in revenue form cloud computing.The group said it expects operating profit,

The software group raised its operating profit and sales guidance for the year and expects strong growth at its core cloud business to continue, aided by AI.