SAP has reported its quarterly performance for the month of June, showing a 10% increase in total revenue compared to the same quarter last year, reaching 8.288 billion euros. The net profit according to the IFRS accounting standards stands at 918 million euros.
CEO of SAP, Christian Klein, mentioned that momentum in the cloud business remains strong in the quarter. The company has secured a business agreement related to AI, aiming to be a leading provider of AI services for businesses. The growth trend is expected to continue until 2027.
Revenue from the cloud and software group amounted to 7.175 billion euros, a 10% increase. Specifically, the cloud revenue is 4.153 billion euros, up by 25%, while the cloud ERP revenue stands at 3.414 billion euros, showing a 33% increase.
SAP has reported progress on its organizational restructuring plan, which allows employees to choose between resigning or reskilling to align with the company’s AI plans. Approximately 9,000-10,000 employees are expected to be impacted, with the plan set to continue until 2025.
TLDR: SAP’s quarterly performance shows a 10% increase in revenue, with strong momentum in the cloud business and a focus on AI services. Organizational restructuring is underway, impacting around 9,000-10,000 employees until 2025.
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