SAP's Q1 revenue jumps 8% to €8.04 billion - Breaking The News

SAP's Q1 revenue jumps 8% to €8.04 billion

22 April

1 min read

EPA-EFE/RONALD WITTEK

SAP SE said on Monday that its IFRS revenue in the first quarter of 2024 was €8.04 billion, rising from the same period last year by 8%. Cloud revenue surged 24% to €3.93 billion.

Diluted earnings per share skyrocketed 74% to €0.71 year-on-year. Meanwhile, the software company registered an operating loss of €787 million, while its IFRS loss after tax stood at €854 million in the reported trimester.

"We're off to a great start in 2024 and we're confident we'll achieve our goals for the year. Looking ahead, we have powerful growth drivers in place – Business AI, cross-selling across our cloud portfolio, and winning new customers particularly in the midmarket," SAP CEO Christian Klein commented.

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