Browsing: SAPEarnings

SAP SE has achieved a historic milestone with its shares soaring to unprecedented levels, fueled by significant advancements in cloud and AI technologies. The company’s robust third-quarter performance exceeded expectations, with total revenues increasing by 10% to €8.5 billion and cloud revenues surging by 27%. The growth in cloud ERP suite revenue and the integration of AI use cases, which bolstered 30% of cloud deals, have been pivotal in this success. SAP’s strategic AI initiatives, including the Joule AI project and the RISE with SAP program, are central to its transformation strategy. As the company raises its full-year forecasts and continues strategic acquisitions, it faces the challenge of transitioning on-premises customers to cloud solutions. Despite ongoing restructuring, SAP remains steadfast in expanding its workforce to fortify its market position, promising innovative shifts in global business processes.