In a prepared statement, CEO Bill McDermott talked about new technologies such as machine learning, the Internet of Things and Blockchain as part of its innovation agenda. We may hear more about how those fit into more specific plans later. IFS operating profit for 2016 was about $5.5 billion while revenue reached $23.7 billion. SAP said cloud subscriptions and support revenue and software support revenue reached 61 percent of the total for the most recently ended year, up 2 percent from 2015. It noted the strong increase in cloud business in reporting new cloud bookings growth of 40 percent for the fourth quarter. For the fourth quarter, IFRS operating profit was up 14 percent over the prior-year's level with revenue increasing by 7 percent.