SAP cloud swells its topline, but profits slide

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SAP cloud swells its topline, but profits slide
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Cloud migration good for margins, CEO says

SAP booked revenue of €8.04 billion in the first calendar quarter of 2024, up eight percent on the same period of 2023.

SAP said that operating profit would have been about €1.5 billion for the quarter without the charge, lower than investor expectations. Still, its shares rose yesterday following the announcement. "What is very important with regard to our services business, what we are focusing is more on the high-margin services like… RISE deal. need to connect the process, the system and the data layer to drive this holistic transformation," Klein said.as a lift-shift-and-transform arrangement in partnership with cloud providers, global consultancies, and SIs. It promised an"intelligent enterprise with S/4HANA cloud.

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