SAP turns in an AI-powered Q2 as CEO Christian Klein dives into the tokenomics debate and its impact on strategy
Wall Street ended the week on a happier note as SAP’s quarterly numbers and AI market assessment calmed investors and didn’t result in the usual meltdown over forward growth projections.
Total revenue rose nine percent year-on-year to €9.88 billion with cloud revenue delivering a strong increase of 22% to hit €6.28 billion, while software licence revenue fell 32% to €131 million. Net income came in at €2.21 billion.
AI and SAP Business Data Cloud were embedded in more than 90% of the quarter’s 50 largest deals, while cloud backlog improved, noted CEO Christian Klein:
Current cloud backlog (CCB) grew 26%, an acceleration compared to Q1. And after two quarters where our CCB was lagging behind cloud revenue growth, it was a welcome trend reversal in this important forward-looking indicator, a great result, especially given the volatile environment.
Klein picked out a number of customer use cases to illustrate enterprise adoption...
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