Enterprise software vendor SAP has raised its 2025 total revenue outlook for continuing operations by around €4 billion (US$4.40 billion) and announced a share buyback of up to €5 billion, boosted by strong demand for its cloud business.
For 2025, the company now expects revenue of more than €37.5 billion with cloud revenue of more than €21.5 billion.
It now sees non-IFRS operating profit of around €11.5 billion.
"Our strong, resilient cloud growth drives accelerating total revenue and operating profit growth," Chief Executive Christian Klein said.
The business software maker also launched a share repurchase program of up to €5 billion scheduled to start in the second half of 2023, citing strong business momentum and anticipated divestiture of the Qualtrics business, expected in the second half of the year.
Last month, SAP reported first-quarter revenue above analysts' expectations, backed by 24 per cent growth in its cloud business revenue.
(Reporting by Riham Alkousaa; Editing by Jan Harvey and Chris Reese)
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