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The latest announcement is out from SAP AG ( (SAP) ).
SAP SE announced its financial results for the fourth quarter and fiscal year 2024, revealing significant achievements in its cloud-based services. The company exceeded its financial outlook for FY2024, with a notable increase in its cloud backlog and revenue. The current cloud backlog stands at €18.1 billion, up 32%, while total cloud revenue increased by 25%. Despite a 20% decrease in IFRS operating profit, SAP’s non-IFRS operating profit rose by 25%, reflecting strong performance in its strategic cloud offerings. With a solid performance for 2024, SAP anticipates further growth in cloud revenue in 2025, strengthening its position in the market and aligning with its Ambition 2025 strategy.
More about SAP AG
SAP SE is a leading company in the technology industry, known for its enterprise software solutions, particularly in cloud computing and ERP systems. It focuses on providing software and technology solutions for businesses of all sizes, with a strong emphasis on cloud services and business process management.
YTD Price Performance: 12.62%
Average Trading Volume: 931,896
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $319.6B
See more insights into SAP stock on TipRanks’ Stock Analysis page.
