SAP Announces Q1 2024 Results
SAP News, Monday, April 22nd, 2024
SAP SE announced its financial results for the first quarter ended March 31, 2024.
Cloud revenue up 24% and up 25% at constant currencies, supported by 32% Cloud ERP Suite revenue growth at constant currencies
Current cloud backlog of 14.2 billion Euros, up 27% and up 28% at constant currencies
IFRS cloud gross profit up 27%, non-IFRS cloud gross profit up 27% and up 28% at constant currencies
IFRS operating loss of -0.8 billion Euros due to a 2.2 billion Euros restructuring provision
Non-IFRS operating profit up 16% and up 19% at constant currencies even including higher share-based compensation resulting from strong share price increase