Strong Q2 Performance: SAP reported a robust Q2 with cloud revenue increasing by 28% year-on-year and total revenue growing by 12%. The operating profit surged by 35%, indicating solid profitability despite challenging macro conditions. Current cloud backlog reached EUR 18.1 billion, reflecting a 28% increase.

Cloud ERP Suite Growth: The Cloud ERP Suite continued its momentum with a growth rate of 34%, contributing 86% of total cloud revenue. This demonstrates the critical role of this suite as a foundational element of SAP's cloud business and positions it well for future growth.

Market Uncertainty and Caution: While SAP has a strong pipeline for the second half of 2025, there remains uncertainty in global markets, particularly in the U.S. public sector and manufacturing sectors where tariffs are affecting decision-making timelines. The company anticipates elongated sales cycles, leading to potential dips in demand.