SAP reported a strong 22% growth in cloud revenue, reaching €6.28 billion in Q2, surpassing analyst expectations. The company’s cloud backlog, an indicator of future sales, increased by 26%, boosting investor confidence. Following these results, SAP’s stock climbed over 6% in Frankfurt, signaling relief amid previous worries about AI’s potential negative effects on the business. Despite some stock declines earlier, the positive cloud performance has reassured the market about SAP’s growth prospects.
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