Key Results from the First Quarter of 2025
- Earnings per Share (EPS): SAP reported earnings of 1.52 euros per share, after recording a loss of 0.71 euros per share in the same quarter last year. Thus, the company significantly exceeded analysts’ expectations of 1.32 euros.
- Revenue: Revenue increased by approximately 12 percent to about 9.013 billion euros (previous year: around 8.04 billion euros). Analysts had expected revenue of about 9.06 billion euros, which was nearly reached.
- Cloud Business: Cloud revenues grew significantly and contribute substantially to the positive overall picture. For the full year, SAP reaffirms its forecast of a currency-adjusted cloud growth between 26 and 28 percent, with a revenue target of around 21.6 to 21.9 billion euros.
Market Reaction
Despite a weaker XETRA closing price on Tuesday (-3.32% to about 218.50 euros), SAP stock surged sharply in after-hours US trading sessions – the ADRs on the NYSE rose temporarily by over +5% to around 266 US dollars. This reflects the positive surprise in earnings.
Outlook
Although SAP expects a slight softening in the growth of the cloud order backlog in 2025, the company reaffirms its annual goals for revenue growth and efficiency improvements through restructuring measures. Solid cost management supports this positive development.
Overall, the strong quarterly numbers indicate a clear improvement in SAP’s operational performance with a significant profit jump and stable revenue growth. These figures are relevant for investors in the DAX context and have led to a positive price development in after-hours trading.