SAP Announces Q1 2023 Results
SAP News, April 21st, 2023
SAP SE announced its financial results for the first quarter ended March 31, 2023. Unless otherwise stated, all figures in this statement are based on SAP group results from continuing operations.
Cloud revenue up 24% and up 22% at constant currencies, up 1 percentage point sequentially. SAP S/4HANA cloud revenue up 77% and up 75% at constant currencies
Current cloud backlog up 25%, both at nominal and constant currencies, a sequential growth improvement of 1 percentage point
IFRS cloud gross profit up 28%, non-IFRS cloud gross profit up 28% and up 27 % at constant currencies fueling double-digit non-IFRS operating profit growth
IFRS operating profit down 45%, non-IFRS operating profit up 12% and up 12% at constant currencies
2023 outlook updated to reflect the expected Qualtrics divestiture. SAP reaffirms outlook for continuing operations including anticipated acceleration of topline and operating profit growth