SAP SE Q1 2025: Solid Start, But Real Work Still Ahead

Group 1 - SAP SE reported Q1 revenue of €9.01 billion, reflecting a 12% year-over-year growth, slightly exceeding market expectations [1] - Cloud revenue for SAP grew by 27%, now representing a significant portion of total revenue [1] - The results support the ongoing transition to cloud services, which is a key narrative for the company's long-term strategy [1] Group 2 - The analyst has over 10 years of experience in the German small and mid-cap software market, indicating a strong background in the industry [1] - There is an intention to expand coverage to include other European and North American software companies, aiming to identify investment opportunities in the evolving SaaS and cloud landscape [1]