WALLDORF SAP SE (NYSE: SAP) today announced its financial results for the second quarter ended June 30, 2023.

  • Cloud revenue up 19% and up 22% at constant currencies. SAP S/4HANA cloud revenue up 74% and accelerates to 79% at constant currencies
  • Current cloud backlog up 21% and up 25% constant currencies
  • IFRS cloud gross profit up 20%, non-IFRS cloud gross profit up 20% and up 24% at constant currencies, supported by completion of SAP’s next-generation cloud delivery program
  • IFRS operating profit up 28%, non-IFRS operating profit up 23% and up 28% at constant currencies
  • SAP updates its 2023 revenue and operating profit outlook
  • Expands market opportunity through new SAP Business AI and premium AI offerings

“This has been another strong quarter. We see significant opportunities ahead, in particular through the transformative power of AI. We are focused on delivering SAP Business AI that’s relevant, reliable, and responsible and we see significant possibilities for market expansion through these technologies and new premium offerings.”

Christian Klein, CEO

“We are very pleased with our first half results. The revenue growth and increased profitability, combined with sustained growth of our cloud backlog, demonstrate the strength of our business model. Q2 performance puts us on the right trajectory and allows us to raise our cloud and software revenue, as well as the operating profit outlook for the year.”

Dominik Asam, CFO

Read the Quarterly Statement