SAP reports strong 2024 financials, forecasts 2025 profit rise, citing cloud and AI growth.

Software giant SAP reported strong financial results for 2024, with cloud revenue up 25% and cloud backlog growing 43%. SAP now expects its 2025 operating profit, on a constant currency basis, to be between €10.3 billion and €10.6 billion, up from €10.2 billion. Revenue from core cloud and software businesses rose 11%, driven by AI and cloud computing growth. SAP's CFO sees Chinese AI startup DeepSeek's model as "good news," reflecting the firm's confidence in AI's role in future growth.

2 months ago
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