Re-invention all over again as SAP pushes past €10 billion revenue in a record quarter
A record-breaking Q3 for SAP as total revenue rose 13% year-on-year to €10.27 billion ($11.54 billion), with net income of €2.27 billion, as CEO Christian Klein declared this was the quarter when the Autonomous Enterprise came to life:
Customers are now getting their hands on our latest AI capabilities and the response has been incredible. Our strategy is not just resonating. It's being adopted.
There are three main reasons for this, he added:
First, AI accelerates the RISE and GROW cloud migration. Second, AI makes the business case for our suite more attractive. And finally, our customers embrace our business AI platform with RISE and GROW. They know it's essential for building the data and process foundation required for high-quality enterprise-grade AI.
Other stats of note from the quarter:
- Sales from SAP's cloud business increased 26% to €6.67 billion.
- Cloud backlog rose 26% to €24.11 billion.
- Operating profit grew 18%...
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