SAP revenue grows 8% to €8,041 million in first-quarter

SAP has announced financial result for Q1 2024, saying its revenue rose 8 percent to €8,041 million due to strong presence in Cloud market.
SAP HANA business customersSAP said Cloud & Software revenue was €6,960 million (up 9 percent).

SAP said Cloud revenue was €3,928 million (24 percent).

SAP said IaaS revenue was €164 million (down 17 percent).

SAP said Extension Suite revenue was €597 million (up 7 percent).

SAP said Cloud ERP Suite revenue was €3,167 million (up 31 percent).

SAP said SaaS/PaaS revenue was €3,764 million (up 26 percent).

SAP said current cloud backlog of €14,179 million (up 27 percent).

“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. The strength of our current cloud backlog reaching a record growth rate is a testament to that momentum,” SAP CEO Christian Klein said in its earnings report.

RISE with SAP customers: Brussels Regional Public Service, Clearway Energy, Curtiss-Wright, Fresenius, Ineos Europe, Lindt & Sprüngli, LyondellBasell, MAHLE International, Public Power Corporation, SKF Group, Sumitomo Heavy Industries, Sutherland, Velliv, ZF Friedrichshafen, and Zoetis.

Foodstuffs South Island, Havells India, PureTech Scientific, Randoncorp, and Stuttgart Netze, went live on SAP S/4HANA Cloud in the first quarter.

Aleron Shared Resources, American Printing House for the Blind, Centrale del Latte di Roma, Churchill Downs Incorporated, Climeworks, Ironwood Pharmaceuticals, MaxiTRANS, SFC Energy, and Unico chose “GROW with SAP”, an offering helping midsize customers adopt cloud ERP.

Key customer wins across SAP’s solution portfolio included: Cintas, FrieslandCampina, LEONI, Maersk, Rabobank, Schaeffler Group, Sky, and Vaillant Group. ALDO Group, BARMER, Coca-Cola Europacific Partners, Dell, and Korea Chamber of Commerce and Industry went live on SAP solutions.

SAP’s cloud revenue performance in the first quarter was particularly strong in APJ and EMEA and robust in the Americas region. Brazil, Canada, Germany, Italy, the United Arab Emirates, India, and South Korea had outstanding performances in cloud revenue growth while the U.S., Japan and Spain were particularly strong.

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