0539 GMT - SAP delivered a solid overall update for the first quarter, characterized by resilient revenue and backlog growth, Citi analyst Balajee Tirupati says in a research note. The German business-software group's earnings came in around 10% ahead of expectations, while free-cash-flow was about 35% ahead, he says. "Looking ahead, SAP continues to be relatively insulated to the challenging macroeconomic environment, and we see management factoring prudence in the unchanged 2025 outlook," Citi says. This update should return some confidence in a time of increased uncertainty, the analyst says. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
April 23, 2025 01:39 ET (05:39 GMT)
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