SAP Stock Recent News

SAP Executive Board Member & Chief Revenue Officer Scott Russell discusses how he sees customers transforming for the artificial intelligence era. He speaks with Paul Allen on "Bloomberg Markets: Asia.

SAP SE Chief Financial Officer Dominik Asam said the advent of artificial intelligence has "propelled the story of the transformation to the cloud," resulting in an uptick on a constant currency basis by 25% in the company's cloud revenue. Europe's biggest software firm rose the most since January after posting record growth in expected revenue from its cloud services over the next year.

SAP SE (NYSE:SAP ) Q1 2024 Earnings Call Transcript April 22, 2024 5:00 PM ET Company Participants Anthony Coletta - Chief Investor Relations Officer Christian Klein - Chief Executive Officer Dominik Asam - Chief Financial Officer Scott Russell - President, Customer Success Conference Call Participants Toby Ogg - JP Morgan Cazenove Limited Adam Wood - Morgan Stanley Johannes Schaller - Deutsche Bank Frederic Boulan - Bank of America Jackson Ader - KeyBanc Capital Markets Michael J. Briest - UBS Limited James Goodman - Barclays Capital Mohammed Moawalla - Goldman Sachs International Charles Brennan - Jefferies Operator Welcome, and thank you for joining the SAP Q1 2024 Financial Results Conference Call.

SAP SE (ETR: SAP) is trading down in extended hours after coming in shy of Street estimates for per-share earnings in Q1. SAP remains bullish for 2024 On the plus side, the software giant reiterated its outlook for 2024 on Monday.

Enterprise application software company SAP has introduced artificial intelligence (AI) advances for its supply chain solutions. According to a Monday (April 22) news release, SAP said these AI-driven insights from real-time data will help its customers use their own data to make better decisions across supply chains, streamline product development and make manufacturing more efficient.

SAP's performance is driven by continued strength in its cloud business. However, global macroeconomic weakness and tough competition in the cloud space remain concerning.

SAP has launched a composable payment solution designed to help retailers add new payment options. The company's new open payment framework integrates SAP Commerce Cloud with several third-party payment service providers (PSPs) and allows retailers to choose payment partners based on their own unique needs, SAP said in a Friday (March 15) press release.

A trend that started back in the 2010s has created an ideal environment for cloud computing stocks now. Large firms have been moving data to the cloud in increased rates, as well as continuing to buy a multitude of tools from cloud-infrastructure providers and software makers.

German software company SAP has nominated Finnish businessman Pekka Ala-Pietila to stand for election as chair of its supervisory board after current chair designate Punit Renjen decided to resign, SAP said on Sunday.

Shares of Tesla fell nearly 6% on Monday after a report said German software firm SAP will no longer procure electric cars from the U.S. automaker, and Piper Sandler cut its stock price target on lower delivery expectations this year.