SAP Q2 Cloud Surge: Outgrowing Microsoft, Salesforce, and ServiceNow


As Christian Klein’s turnaround adventure progresses, SAP’s Q2 growth rates of 34% for cloud in general and 100% for S/4HANA Cloud ERP catapult SAP into a stunning new role as one of the world’s fastest growing cloud providers.
Yes, you heard it right: SAP is definitely growing faster in the cloud than Salesforce, ServiceNow and Workday, and will most likely outpace Microsoft and Amazon as well.
We will be able to work out those details with more certainty in the next 10 days as Microsoft, Amazon and ServiceNow report their Q2 results, but I suspect that when all the numbers are in, SAP will be the third most popular cloud provider in the world, behind only Google Cloud and Oracle, which will benefit from the inclusion of significant revenue from the Cerner acquisition.
One of the key drivers behind SAP’s excellent overall performance is its S/4HANA Cloud ERP product, which grew 84% in Q2 revenue to $481 million. On top of that great Q2 number, the future outlook for S/4HANA Cloud also looks great, as the current cloud backlog figure for Q2 is up a stunning 100% to $2.3 billion.
At a time when currency exchange rates are wrecking the results of US-based tech companies, it’s certainly true that numbers for German-based SAP are benefiting from the opposite effect. For example, IBM posted 18% cloud growth earlier this week, but its constant currency figure was 24%.
For SAP, the cloud growth rate of 34% would have been 24% in constant currency. But that’s the fate of living in a global economy, and this currency exchange perspective should not be interpreted in any way to diminish the remarkable performance of SAP and CEO Klein.
Let me name a few things Klein has accomplished in just over two years as the sole CEO of SAP:
I’ll have a lot more details next week on SAP’s strategy and customers and directions from the Q2 revenue call, but I think it’s very important for the world to see Christian Klein propelled SAP to become one of the fastest growing to become major cloud providers in the world.
And the backlog figures indicate that SAP is just getting started.
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As Chief Content Officer and co-founder of the Acceleration Economy, Bob leads the strategic direction of the global analyst network and actively covers the Cloud and Digital Business categories. Creator of Cloud Wars Top 10, a ranking and ongoing analysis of the world’s most influential technology companies driving digital business and the digital economy. World-class strategic communicator focused on emerging business strategy, disruptive innovation and forward-looking leadership. After many years of award-winning editorial leadership, he was recruited by Larry Ellison to develop the way Oracle Corp. communicated its vision and business value to the world. Have given keynotes on every continent (except Anta
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