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SAP Q2 cloud ERP revenue up 33%, sees restructuring hitting 9,000 to 10,000 jobs

SAP in the second quarter said its cloud revenue was up 25% and CEO Christian Klein said its Business AI efforts are "enabling many deals." The company reiterated its outlook for 2024 and raised its 2025 operating profit guidance due to efficiency efforts. The company also said its restructuring efforts will impact 9,000 to 10,000 jobs. SAP said in January it expected to cut 8,000 jobs. For the quarter ending June 30, SAP said its SaaS and PaaS revenue was €4.02 billion, up 28%. Cloud ERP revenu...

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