SAP Continues To Expect €17.0 Billion – 17.3 Billion Cloud Revenue At Constant Currencies (2023: €13.66 Billion), Up 24% To 27% At Constant Currencies; An Effective Tax Rate (Non-IFRS) Of ~32% (2023: 30.3%)
Portfolio Pulse from Benzinga Newsdesk
SAP projects a significant increase in cloud revenue for 2024, expecting €17.0 billion to €17.3 billion, up from €13.66 billion in 2023, marking a 24% to 27% growth at constant currencies. The effective tax rate is anticipated to rise to approximately 32% from 30.3% in 2023.
October 21, 2024 | 8:11 pm
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SAP anticipates a 24% to 27% increase in cloud revenue for 2024, reaching €17.0 billion to €17.3 billion. The effective tax rate is expected to rise to ~32%.
The projected increase in cloud revenue indicates strong business growth, which is positive for SAP's stock. However, the rise in the effective tax rate could slightly offset the positive impact. Overall, the news is likely to have a positive short-term impact on SAP's stock price.
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