SAP Enjoyed Growth Across All Pillars, CFO Says

The transcript discusses SAP's strong start to the year, highlighting significant growth in software licenses and cloud bookings, particularly in the US market. The S4 HANA suite has seen remarkable growth with over 5800 customers, contributing to the overall portfolio's success. The potential impact of US tax reforms on SAP's business is considered, with a focus on investment in the US market. Despite concerns about cloud margins, the company remains confident in its growth trajectory, attributing margin fluctuations to revenue mix shifts and seasonality effects.

What was the overall performance of SAP in Q1 from a tax rate perspective?

What are the key areas where SAP is continuing to invest in the US?

How has the cloud margin changed in relation to the revenue mix?