SAP SE announced its financial results for the third quarter ended September 30, 2022.
SAP Announces Q3 2022 Results
- Cloud momentum continues to accelerate
- Cloud revenue up 38% and up 25% at constant currencies
- Current cloud backlog up 38% and up 26% at constant currencies
- SAP S/4HANA current cloud backlog up 108% and up 90% at constant currencies
- IFRS cloud gross profit up 44%, non-IFRS cloud gross profit up 42% and up 30% at constant currencies
- IFRS operating profit down 1%, non-IFRS operating profit flat and down 8% at constant currencies
“Our cloud solutions are the answer, as customers turn to us to help them future-proof their businesses. This trust in SAP is reflected in our accelerating cloud momentum. With a recurring revenue share of more than 80%, it’s clear that our transformation has reached an important inflection point, paving the way for continued growth in the future.”
Christian Klein, CEO
“We have delivered a strong cloud quarter with accelerating momentum across all key cloud indicators. We’re at an important inflection point in our transformation which we anticipate will lead to accelerating revenue growth and double-digit operating profit growth in 2023.”
Luka Mucic, CFO
