SAP SE (ETR: SAPG) kicked off 2024 with a strong performance, showcasing significant growth in cloud revenue and backlog, alongside a healthy increase in operating profit. The company’s cloud revenue climbed by 25% to EUR 3.9 billion, while the current cloud backlog expanded by 28% to a record EUR 14.2 billion. Operating profit rose by 19% to EUR 1.5 billion, reflecting the company’s focus on cloud and AI-driven growth across various regions.