SAP (NYSE:SAP) shares slipped after the Germany-based enterprise software firm reported mixed earnings for the fourth quarter.
Quarterly earnings per share grew to €1.40 from €1.12 in the year-ago quarter but missed estimates of €1.45.
Revenue, on the other hand, grew by 10% year-over-year to €9.38 billion, ahead of estimates of €9.14 billion.
This included €4.71 billion in Cloud revenue, up 27% from Q4 of the previous year.
For fiscal 2024, revenue reached €34.18 billion, marking a 10% increase from the previous year.
Cloud revenue grew 25% to €17.14 billion.
The company’s total Cloud backlog was €63.3 billion, up 43%.
“Q4 was a strong finish to the year, with half of our cloud order entry including AI,” SAP CEO Christian Klein said in a statement.
“Looking ahead, our strong position in data and Business AI gives us additional confidence that we will accelerate revenue growth through 2027.”
SAP’s US-listed shares slipped following the release of its report, down 2.2% at about $270 shortly after the opening bell.