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Jun 30, 2025
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SAP Q2 2025 Earnings Report
SAP reported strong Q2 2025 results with robust cloud growth, higher profitability, and increased cash flow.
Key Takeaways
SAP delivered a strong Q2 2025, driven by 24% cloud revenue growth and a significant increase in operating profit and net income, supported by AI innovations and operational efficiencies.
Revenue by Segment
Forward Guidance
SAP maintained its 2025 outlook, expecting strong cloud revenue growth, improved operating profit, and higher free cash flow.
Positive Outlook
- Cloud revenue expected to grow 26%-28% at constant currencies
- Cloud and software revenue projected to rise 11%-13%
- Non-IFRS operating profit forecasted to grow 26%-30%
- Free cash flow expected to reach ~€8 billion
- Continued focus on AI and cloud transformation
Challenges Ahead
- Geopolitical and public sector uncertainties remain
- Currency fluctuations expected to impact reported figures
- Cloud backlog growth expected to slightly decelerate
- Effective tax rate to remain around 32%
- Macroeconomic headwinds could affect demand
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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