SAP Shares Climb On Better-Than-Expected Q1 Results

SAP SE SAP released its first-quarter results after Tuesday’s closing bell. Here’s a look at the key figures from the report. 

The Details: SAP reported quarterly revenue of 9.01 billion euros ($9.48 billion), beating analyst estimates, according to Benzinga Pro. Earnings of 1.44 euros ($1.54) per share also came in ahead of estimates.

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For the first quarter, SAP reported:

• Current cloud backlog of 18.2 billion euros, up 28% and up 29% at constant currencies.
• Cloud revenue up 27% and up 26% at constant currencies.
• Cloud ERP Suite revenue up 34% and up 33% at constant currencies.
• Total revenue up 12% and up 11% at constant currencies.
• IFRS operating profit of 2.3 billion euros; non-IFRS operating profit of 2.5 billion euros, up 60% and up 58% at constant currencies.

“Q1 once again underlines that our success formula is working. Current cloud backlog expanded 29% at constant currencies and total revenue saw a double-digit increase. With a share of more predictable revenue of 86%, SAP’s business model remains resilient in uncertain times,” said Christian Klein, CEO of SAP.

“Our AI-powered portfolio enables companies to navigate supply chain disruptions in over 130 countries and to unlock efficiencies with agility and speed,” Klein added.

SAP Price Action: According to data from Benzinga Pro, SAP stock was up 8.95% after-hours at $274.99 on Tuesday.  

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