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Morningstar‘s Stock Analysis SAP

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SAP Misses in Q2 Due to Exiting Russia as Cloud Becomes SAP's Main Revenue Stream; Shares Attractive

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

SAP reported mixed second-quarter results missing FactSet consensus earnings per share despite a moderate revenue beat. Despite the EPS miss, we found it comforting that omitting the Russia exit, SAP would be outperforming against its operating profit goals. Revenue guidance for the year was reconfirmed but the range of non-IFRS operating profit for fiscal 2022 was reduced due to headwinds from exiting Russia. On the bright side, SAP's cloud business became the largest revenue contributor for the first time in the second quarter—as SAP added larger enterprises to its cloud software mix, compared with historically having a higher mix of net new midsize firms. 

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Key Statistics SAP

Company Profile SAP

Business Description

Founded in 1972 by former IBM employees, SAP provides database technology and enterprise resource planning software to enterprises around the world. Across more than 180 countries, the company serves 440,000 customers, approximately 80% of which are small to medium-size enterprises.

Dietmar-Hopp-Allee 16
Walldorf, BW, 69190, Germany
T +49 6227747474
Industry Software - Application
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 110,409

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