SAP Reports Record Highs with Strong Cloud and AI Growth

SAP's financial results surpass expectations as the company raises its outlook amid robust demand for cloud and AI solutions.

SAP's third-quarter cloud revenue rose 25%, driving its stock to a record high and prompting an increase in its full-year forecast.
CEO Christian Klein emphasized the significant role of AI in SAP's growth, with 30% of cloud contracts incorporating AI use cases.
SAP's operational restructuring, including potential job cuts, aims to streamline costs and focus on AI and cloud services.
The company's total revenue increased by 9% to €8.47 billion, with adjusted operating profit up 28% to €2.24 billion.
Despite economic challenges, SAP remains optimistic about achieving double-digit growth rates and increased profitability in the coming years.