SAP SE (NYSE:SAP) reported its second-quarter financial results Monday. Here's a look at the details from the report. 

The Details: SAP reported quarterly earnings of 82 cents per share which missed the analyst consensus estimate of $1.19 by 31.26%. Quarterly sales came in at $8.92 billion which missed the analyst consensus estimate of $8.96 billion by 0.42% and represents an 8.81% increase over sales from the same period last year.

Cloud revenue grew 25%, underpinned by 33% Cloud ERP Suite revenue growth, all at nominal and constant currencies, and the company reported its current cloud backlog increased by 28%, both at nominal and constant currencies. IFRS cloud gross profit grew 29% and non-IFRS cloud gross profit grew 28%.

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“Our cloud growth momentum remained strong in Q2, with Business AI enabling many deals. We continue to execute on our transformation with great discipline, leading to an increase in our operating profit ambition for 2025. At the same time, we continue to invest into our transformation to be the leader in Business AI. Given our progress and strong pipeline, we are confident to achieve accelerating topline growth through 2027,” said Christian Klein, SAP’s CEO.

Outlook: SAP reiterated its fiscal year 2024 outlook and sees cloud revenue in a range of $18.5 billion and $18.84 billion and non-IFRS operating profit between $8.28 billion and $8.6 billion. The company expects fiscal year 2025 cloud revenue of more than $23.41 billion and non-IFRS operating profit of approximately $11.11 billion.

SAP Price Action: According to Benzinga Pro, SAP shares are up 4.80% after-hours at $210.10 at the time of publication Monday.

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Image: Courtesy of SAP