SAP AG (SAP) has released an update.
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SAP SE reported robust financial results for Q2 2024, with a notable 28% increase in current cloud backlog and a 25% rise in cloud revenue, reflecting strong growth in Cloud ERP Suite revenues. Despite restructuring costs leading to an 11% decline in IFRS operating profit, non-IFRS operating profit surged by 33%. The company remains optimistic about its future, reiterating its 2024 financial outlook and raising its 2025 operating profit ambitions due to expected efficiency gains.
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