SAP - Why SAP Shares Are Surging Today | Benzinga
SAP SE (NYSE: SAP) shares are rising by around 5% after the company reported Q3 FY23 financial results.
SAP reported revenue growth of 4% Y/Y to €7.744 billion. Total revenue was up 9% Y/Y in constant currencies (CC).
Cloud revenue increased 16% Y/Y (+23% Y/Y in CC) to €3.472 billion.
Software licenses and support revenue declined 6% Y/Y (-2% Y/Y in CC) to €3.208 billion.
Cloud and software revenue grew 4% Y/Y (+9% Y/Y in CC) to €6.679 billion.
Current Cloud backlog was up 19% Y/Y (+25% Y/Y in CC) to ...