SAP shares turn negative on new cloud business outlook
SAP said it expected cloud revenue for 2025 to be at the lower end of its forecast of 21.6 billion to 21.9 billion euros ($25.2 billion - $25.5 billion). "We did not see an 'Oracle moment', but some fears about a weak report looming did not come true either," a local trader said, referring to Oracle's upbeat view on its cloud infrastructure revenue. The cloud backlog growth was especially strong given broader concerns of risks to software players caused by artificial intelligence, JPMorgan wrote in a note.
SAP said it expected cloud revenue for 2025 to be at the lower end of its forecast of 21.6 billion to 21.9 billion euros ($25.2 billion - $25.5 billion). "We did not see an 'Oracle moment', but some fears about a weak report looming did not come true either," a local trader said, referring to Oracle's upbeat view on its cloud infrastructure revenue. The cloud backlog growth was especially strong given broader concerns of risks to software players caused by artificial intelligence, JPMorgan wrote in a note.
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