SAP: Cloud Giant's Quarterly Figures Exceed Expectations!

A particularly pronounced growth was recorded in the cloud sector. Revenue in this business area increased by 27% to €4.9 billion. The Current Cloud Backlog, a metric that includes contractually secured cloud revenues, rose to €18.1 billion. However, due to the increasing focus on the cloud area, revenues from traditional software business declined. They fell by 10% to €183 million. In addition to the profits from the cloud division, the job cuts, which already began last year, were also noticeable. Many employees left the company only at...