Europe’s Embattled Software Firms Rise Above AI, Iran Challenges

Europe’s software companies are doing better than expected this earnings season, brushing off fears around artificial intelligence and the impact of the Iran war on business confidence.

The region’s biggest software firm — SAP SE — beat analyst estimates as demand for its cloud solutions continued to grow. The cloud backlog “should allay worries about AI disruption and the Iran conflict’s potential to affect the closing of deals, which had plagued ServiceNow,” Bloomberg Intelligence analyst Anurag Rana said.