SAP Shares Jump After AI Demand Boosts Cloud Revenue by 25%
- Adjusted cloud revenue in the second quarter was €4.15 billion
- SAP reiterated 2024 outlook and raised 2025 profit forecast
SAP has sharpened its focus on AI as a key growth area and announced a restructuring program in January.
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SAP SE shares rose the most since January after the German software company reported a surge in cloud revenue growth, helped by corporate customers’ demand for services to run artificial intelligence applications.
Adjusted cloud revenue rose 25% at constant currencies in the second quarter from a year earlier to €4.15 billion ($4.52 billion), the Walldorf-based company said in a statement late Monday. That compares with the average estimate of €4.16 billion from analysts surveyed by Bloomberg.