SAP has put the spotlight on its artificial intelligence (AI) plans in its latest results, but persuading customers to move to the cloud is still the most important part of its strategy.
SAP said the full-year revenue stood at €31bn, up 6%. Cloud revenue grew by 20% to €13.66bn, and the firm said this surge was primarily due to “strong” double-digit growth in its software-as-a-service (SaaS) and platform-as-a-service (PaaS) offerings. SAP S/4HANA Cloud revenue jumped by 67% to €3.49bn.
For 2024, SAP expects €17bn to €17.3bn cloud revenue, somewhere between €29bn and €29.5bn cloud and software revenue and €7.6bn to €7.9bn operating profit.
