SAP Sees Strong Cloud Growth in 2022 Q2
Cloud Revenue Became the Largest Revenue Stream
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Key Takeaways
⇨ Cloud revenue was the largest revenue stream for SAP in Q2 of 2022
⇨ SAP is much closer to achieving their mid-term cloud goals
In SAP’s second quarter earnings call for 2022, the organization announced a 34% jump in cloud revenue, 24% at constant currencies, making it SAP’s largest revenue stream. Current cloud backlog, contractually committed revenue that SAP expects to recognize over the coming 12 months, also exceeded €10 billion for the first time ever. Much of this…
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