Published on 23 Apr 2024 on Zacks via Yahoo Finance
SAP's Q1 Earnings and Revenues Rise Y/Y on Cloud Strength
SAP SE SAP delivered first-quarter 2024 non-IFRS earnings per share (EPS) of €0.81, which increased 8% year over year.Driven by strength in the cloud business, SAP reported total revenues on a non-IFRS basis of €8.041 billion, which increased 8% year over year (up 9% at constant currency or cc). The company expects Business AI, cross-selling across cloud portfolio and new customers wins, especially in the midmarket, to drive top-line expansion.Following the announcement, shares of SAP are up 3.9% in the pre-market trading on Apr 23. In the past year, shares have gained 34.4% compared with sub-industry’s growth of 36.2%.
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