SAP Rises Most Since January on Record Cloud Backlog Growth
- Current cloud backlog grew 28% to €14.2 billion last quarter
- Cloud revenue rose 25% at constant currencies in period
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SAP SE rose the most since January after posting record growth in expected revenue from its cloud services over the next year, boosted by the boom in artificial intelligence.
SAP’s current cloud backlog — an indicator of revenue to be booked within next 12 months — grew by 28% at constant currencies to €14.2 billion ($15.2 billion), the fastest growth on record, the Walldorf-based software company said in a statement late Monday.