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SAP accelerates cloud growth across portfolio raises revenue and profit outlook

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WALLDORF, Germany — SAP SE (NYSE: SAP) recently announced its financial results for the second quarter ended June 30, 2021.

  • Current Cloud Backlog and Cloud Revenue Growth Accelerates Sequentially
    • Current Cloud Backlog Up 20% At Constant Currencies
    • SAP S/4HANA Current Cloud Backlog Up 48% At Constant Currencies
    • Cloud Revenue Up 11% And 17% At Constant Currencies
  • SaaS/PaaS Cloud Revenue Outside Intelligent Spend Up 20% And 25% At Constant Currencies
  • EPS Up 57%; Non-IFRS EPS Up 50%

SAP CEO Christian Klein said, “We’re seeing strong adoption of our cloud portfolio as customers select SAP for their business transformation. Our strategy is working; This is the third straight quarter of strong execution, and we continue to deliver unparalleled customer value through the strength of our platform and applications.”

“This has been another strong quarter with accelerating growth for SAP’s cloud portfolio. We saw excellent customer momentum and adoption and are raising our outlook for revenue and profit,” added SAP CFO Luka Mucic.

Read full article on BusinessMirror

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