SAP beats Q1 earnings estimates with strong cloud growth, shares rise 6% after hours

SAP reported first-quarter earnings of $2.01 per share, beating estimates by 4.69%, while revenue of $11.19 billion slightly missed expectations but grew significantly from last year. The company highlighted strong growth in cloud backlog (up 25% at constant currencies) and cloud revenue (up 27%), driven by its expanding Business AI offerings. CEO Christian Klein emphasized SAP's faster-than-market growth and increasing market share. Following the report, SAP shares rose 6.05% in after-hours trading to $173.13, reflecting investor confidence in its cloud and AI strategy.