SAP Q2 Revenue and Cloud Backlog Beat Estimates, Guidance Unchanged
SAP reported Q2 non-IFRS revenue of €9.88 billion and cloud revenue of €6.28 billion, both slightly above estimates. Cloud backlog grew 26% at constant FX, beating the 23.8% expected, while full-year guidance was maintained.
Enterprise software giant SAP posted better-than-expected second-quarter results on Tuesday. Non-IFRS revenue came in at €9.88 billion and cloud revenue reached €6.28 billion, both marginally above consensus estimates.
The cloud backlog, a key indicator of future revenue, rose 26% at constant currencies, exceeding the 23.8% expected by analysts. However, SAP left its full-year outlook unchanged: non-IFRS cloud revenue of €25.8 billion to €26.2 billion and non-IFRS operating profit of €11.8 billion to €12.2 billion.
Source: First Squawk