SAP raises 2025 outlook, launches 5 bln euro share buyback (updated)

Qualtrics International

16/05/2023 17:34

(Adds details, background)
       BERLIN, May 16 (Reuters) - SAP  SAPG.DE  on Tuesday
raised its 2025 total revenue outlook for continuing operations
by around 4 billion euros ($4.40 billion) and announced a share
buyback of up to 5 billion euros, boosted by strong demand for
its cloud business.
    For 2025, the company now expects revenue of more than 37.5
billion euros with cloud revenue of more than 21.5 billion
euros. It now sees non-IFRS operating profit of around 11.5
billion euros.
    "Our strong, resilient cloud growth drives accelerating
total revenue and operating profit growth," Chief Executive
Christian Klein said in a statement.
        The business software maker also launched a share
repurchase program of up to 5 billion euros scheduled to start
in the second half of 2023, citing strong business momentum and
anticipated divestiture of the Qualtrics  XM.O  business,
expected in the second half of the year.
  
        Last month, SAP reported first-quarter revenue above
analysts' expectations, backed by 24% growth in its cloud
business revenue.
    ($1 = 0.9084 euros)

 (Reporting by Riham Alkousaa; Editing by Jan Harvey and Chris
Reese)
 ((Riham.Alkousaa@thomsonreuters.com; Twitter: @RihamKousa;))