- SAP ( SAP ) reports Q2 revenue growth of +12.7% Y/Y beating estimates by €180M.
- SAP S/4HANA current cloud backlog extends its growth trend, up 100% and up 87% at constant currencies.
- Cloud gross profit up 39%, adj. up 38% and adj. at constant currencies up 28%, leading to a strong cloud gross margin expansion.
- "We continued to deliver strong topline growth, exceeding revenue expectations and increasing cloud profitability." said Luka Mucic, CFO.
- SAP reaffirms 2022 revenue and FCF outlook , updates operating profit outlook range; for the FY22, SAP continues to expect for 2022: €11.55 – 11.85 billion cloud revenue at constant currencies (2021: €9.42 billion), up 23% to 26% at constant currencies.
- €25.0 – 25.5 billion cloud and software revenue at constant currencies (2021: €24.08 billion), up 4% to 6% at constant currencies.
- Free cash flow above €4.5 billion (2021: €5.01 billion).
- SAP now expects: €7.6 – 7.9 billion non-IFRS operating profit at constant currencies (2021: €8.23 billion), down 4% to 8% at constant currencies. The previous range was €7.8 – 8.25 billion at constant currencies.
- SAP is also updating its full-year 2022 effective tax rate outlook to 34.0% to 38.0% (previously: 28.0% to 32.0%). SAP continues to anticipate a full-year 2022 effective adj. tax rate of 23.0% to 27.0% but expects to be at the upper end of this range.
- Previously: SAP SE GAAP EPS of €0.28, revenue of €7.52B beats by €180M; reaffirms FY22 revenue guidance (July 21)
- Previously: SAP announces additional €500M share repurchase program (July 21)
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SAP continued to deliver strong topline growth for Q2