Software giant SAP’s shares surge 9.3% after first-quarter profit beat
The headquarters of SAP AG, Germany’s largest software company, on Jan. 8, 2013, in Walldorf, Germany.
Thomas Lohnes | Getty Images News | Getty Images
SAP announced a significant 58% increase in first-quarter operating profit in constant currency, exceeding analysts’ expectations. The operating profit reached 2.5 billion euros ($2.9 billion), driving a 9.3% surge in the company’s shares.
The company also reported an 11% rise in revenue to 9 billion euros, with a 29% increase in its cloud backlog. Earnings per share saw a substantial 79% growth to 1.44 euros, showcasing strong financial performance.
CEO Christian Klein expressed satisfaction with the results, stating that SAP’s business model remains resilient and adaptable in challenging times. He highlighted the company’s AI-powered portfolio, which helps businesses worldwide navigate disruptions and enhance operational efficiency.
Stay tuned for further updates on this developing story.
