SAP Current Cloud Backlog Grew By 28% To €14.81 Billion And Again Was Up 28% At Constant Currencies For Q2
Portfolio Pulse from Benzinga Newsdesk
SAP's current cloud backlog grew by 28% to €14.81 billion in Q2, maintaining the same growth rate at constant currencies.
July 22, 2024 | 8:12 pm
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SAP reported a 28% increase in its current cloud backlog to €14.81 billion for Q2, with the same growth rate at constant currencies. This indicates strong demand and growth in SAP's cloud services.
The significant growth in SAP's cloud backlog suggests robust demand for its cloud services, which is a positive indicator for future revenue and earnings. This is likely to have a positive short-term impact on SAP's stock price.
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