Posted 10/18/2023, 8:10:28 PM
SAP Q3 Results: Cloud Revenue and Profit Up Double Digits, Backlog Grows
- Cloud revenue up 16% and up 23% at constant currencies in Q3 2023
- Current cloud backlog increased to €12.3 billion, up 19% and 25% at constant currencies
- IFRS cloud gross profit up 21%, non-IFRS cloud gross profit up 21% and 28% in constant currencies
- IFRS operating profit increased 11%, non-IFRS operating profit up 10% and 16% at constant currencies
- SAP reaffirms 2023 outlook and continues focus on innovation and cloud growth
