SAP shares hit all-time high after upbeat cloud business outlook By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: Investing.com
SAP's Strong Performance: SAP shares rose 4.4% after the company raised its full-year revenue targets, driven by a 27% increase in cloud revenue and significant sales growth in Cloud ERP Suite software, with AI being a key factor in this success.
Financial Outlook and Restructuring: The company reported a 28% increase in operating profit, expects restructuring costs around 3 billion euros, and has maintained its 2025 targets while adjusting its 2024 operating profit forecast upward to 7.8 billion euros.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
