0659 GMT - German business-software group SAP posted a strong set of fourth-quarter results, JPMorgan analysts write in a note to investors. Current cloud backlog grew 29% on year at constant currencies to 18.08 billion euros, which the analysts called impressive against elevated expectations. Such growth underscores SAP's strength and growth prospects, they add. Sales from SAP's core cloud business jumped 27% to 4.71 billion euros. Operating profit climbed 24% to 2.44 billion euros, with the company's operating margin up to 26% from 23.3%. Analysts had forecast cloud revenue of 4.67 billion euros, operating profit of 2.25 billion euros and a 24.5% margin, according to a consensus provided by the company. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
January 28, 2025 02:00 ET (07:00 GMT)
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