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SAP Stock Higher After Announcing Third Quarter Earnings

NEW YORK (TheStreet) -- SAP (SAP - Get Report) stock is rising by 5.77% to $72.40 in midday trading on Tuesday, after the company announced revenue and profit that beat analysts' expectations for the 2015 third quarter.

The company reported earnings of 98 euro cents for the most recent quarter, up 16% from the third quarter of 2014.

Revenue for the three months ended September increased by 17%, to 4.99 billion euros from 4.26 billion euros for the year ago period, according to a statement. Cloud computing revenue soared to 600 million euros, up 116% from the prior year.

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