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.

Photographer: Alex Kraus/Bloomberg
Lock
This article is for subscribers only.

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 statementBloomberg Terminal late Monday. That compares with the average estimate of €4.16 billion from analysts surveyed by Bloomberg.