SAP's revenue rises 10% to €7.4B in Q1 - Breaking The News

SAP's revenue rises 10% to €7.4B in Q1

21 April

1 min read

EPA-EFE/RONALD WITTEK

SAP SE said on Friday that its IFRS revenue in the first quarter of 2023 was €7.4 billion, rising from the same period last year by 10%. Cloud revenue rose 24% to €3.2 billion.

Diluted earnings per share plunged 35% to €0.41 year on year, while the software company's operating profit fell 45% to €803 million. IFRS profit after tax declined 19% to €509 million in the three-month period. For the entire fiscal 2023, the company expects to bring in between €15.3 and €15.7 billion in cloud revenue.

"We have entered a powerful new phase in our strategic transformation, with topline and bottom-line results clearly demonstrating the tipping point we passed in the fourth quarter 2022," Chief Executive Officer Christian Klein said.

earnings sap

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