SAP Q2 cloud business revenue up 22% year-on-year, cloud backlog orders approach 23 billion euros

Glonghui, July 24 — German enterprise software giant SAP SE released its second-quarter results: total revenue increased by 9% year-on-year to 9.88 billion euros, slightly higher than analysts’ expectations of 9.85 billion euros; non-IFRS operating profit rose by 9% to 2.7 billion euros; adjusted earnings per share were 1.59 euros, below analysts’ expectations of 1.75 euros. During the period, cloud business revenue grew by 22% year-on-year to 6.28 billion euros, above analysts’ expectations of approximately 6.26 billion euros. On the other hand, traditional business continued to shrink: software license revenue fell by 32% year-on-year to 131 million euros, and software support revenue decreased by 8% to 2.439 billion euros. Cloud contract backlog (CCB) approached 23 billion euros, up 26% year-on-year.