SAP's total revenue rose 13% to €10.27 billion, with cloud revenue up 26% to €6.668 billion (25% excluding currency effects) and current cloud backlog reaching €24.144 billion, up 28%. Non-IFRS operating profit increased 18% to €3.030 billion, while IFRS operating profit was €2.930 billion. CEO Christian Klein attributed customers' move to the cloud mainly to artificial intelligence. SAP now expects cloud revenue toward the upper end of its €25.8 billion–€26.2 billion range and cloud and software revenue toward the upper end of €36.3 billion–€36.8 billion, both at constant currencies, while keeping its non-IFRS operating profit outlook at €11.8 billion–€12.2 billion. SAP also agreed on Oct. 6 to buy Belgian workforce technology company TechWolf, with closing expected in the fourth quarter.
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