For a lot of array-heavy applications (where you store all kinds of data in giant multi-level PHP arrays), the memory usage alone counts for most of the speedup; instead of wading through tens or hundreds of MB of array structures, PHP 7 trimmed things down by a factor of 2 or more.
There are a lot of PHP apps/CMSes/etc that gained 30-50% speedups due to just that improvement. Other more optimized apps/scripts saw a much more modest gain.