SAP’s Cloud Boom Can’t Save Its Stock – DAX Teeters as Tesla Shocks Investors
SAP’s Strong Results Come With Cloud Caution SAP surprised markets with solid Q3 earnings – revenue rose 7% (11% in constant currency) to €9.1 billion, and operating profit climbed 12% to €2.48 billion faz.net. Net income jumped to €2.05 billion, up from €1.44 billion a year ago faz.net. The company’s fast-growing cloud business drove the gains: cloud revenue leapt 22% year-on-year (27% at constant currency), now accounting for over half of sales ts2.tech. CEO Christian Klein hailed “strong cloud revenue growth”, pointing to a record €18+ billion cloud backlog fueling future sales ts2.tech. Despite the robust results, SAP’s tone turned more cautious due to macroeconomic headwinds.