SAP’s stock rose sharply by 9.3% following Q2 results that demonstrated robust cloud revenue growth and a substantial acceleration in the current cloud backlog, signaling improving forward visibility and strong execution on AI and autonomous enterprise initiatives.
- Cloud revenue increased 24% to EUR 6.3 billion, driven by ERP migrations and AI adoption.
- Current cloud backlog grew 26%, accelerating from Q1 and outpacing recent trends, suggesting stronger future cloud revenue.
- Total revenue rose 11% to EUR 9.9 billion despite a slight decline in services revenue due to consultant redeployment toward AI agent development.
- Operating profit increased 9% to EUR 2.7 billion, reflecting efficient cost management amid top-line growth.
- The successful launch of the Autonomous Enterprise platform and AI Agent Hub, along with strong demand from the Sapphire conference, support confidence for a strong second half.
Community Discussion