SAP Q4 Results 2024 Mark a “Strong Close” for the Year

SAP released its financial results for Q4 and full fiscal year 2024, marking a strong finish to the year. For the fourth quarter of 2024, SAP’s cloud strategy continued to show positive momentum. SAP’s current cloud backlog reached €18.08 billion, reflecting a 32% year-over-year growth, with cloud revenue rising by 27% to €4.71 billion. The growth was mainly driven by the Cloud ERP Suite, which saw a 35% increase in revenue, reaching €3.95 billion. Other parts of the cloud business, such as the Extension Suite, showed more modest growth of 9%. The company’s overall revenue for the quarter increased by 11%, totaling €9.38 billion. Software and cloud revenue combined saw an increase of 12%, reaching €8.27 billion, while total services revenue rose by 2% to €1.11 billion. SAP’s cloud gross profit increased by 29%, showing the company’s strong position in the market. Strong Performance of SAP for Q4 and Full Fiscal Year 2024 Looking at the full fiscal year, SAP’s cloud revenue surged by 25%, amounting to €17.14 billion. The company’s total revenue for the year was €34.18 billion, up 10% compared to the previous year. Despite the growth in the cloud segment, SAP’s software license reven...