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3d ago

SAP Holds Outlook After Q2 Earnings Beat, Notes Cloud Slowdown and Trade Drag

Christian Klein said the AI assistant Joule is now broadly available across the company’s software suite

A logo on the SAP exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier/ File Photo
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Overview

  • SAP reported adjusted earnings per share of €1.50 for Q2, topping analyst forecasts, and delivered revenue of €9.03 billion in line with expectations.
  • Cloud revenue grew 24% year-on-year, down from over 25% a year earlier, yet SAP reaffirmed its full-year cloud target of €21.6 billion to €21.9 billion.
  • CEO Christian Klein highlighted Joule’s broad rollout as the centerpiece of SAP’s AI-driven growth strategy.
  • CFO Dominik Asam said U.S. tariff-related uncertainty had delayed large deals and suggested the new U.S.-Japan trade agreement could help restore momentum.
  • SAP’s shares fell about 3.5% in early trading after the results, despite rallying nearly 25% so far this year.