- SAPSE (NYSE: SAP) reported revenue growth of 5% year over year to €7.84 billion in the third quarter of fiscal 22 with constant currencies.
- Cloud revenue grew 25% year over year to €3.29 billion at CC, driven by double-digit growth in the SaaS and PaaS portfolios.
- CC software license and support revenue declined 9% Y/Y to €3.42 billion.
- CC cloud and software revenue was up 5% Y/Y to €6.71 billion.
- Current cloud backlog increased 26% Y/Y to €11.27 billion at CC.
- Non-IFRS cloud gross margin increased 230 basis points to 71.7%, driven by a significant increase in SaaS margin.
- Non-IFRS operating margin declined 400 basis points to 26.7% due to a lower contribution from software license revenue. The non-IFRS EPS was €1.12.
- outlook: SAP confirmed revenue guidance for 2022.
- SAP expects FY22 cloud revenue to be between €11.55 billion and €11.85 billion.
- SAP expects FY22 cloud and software revenue at CC to be between €25 billion and €25.5 billion.
- Price promotion: SAP shares closed 0.14% higher at $91.01 on Monday.
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