SAP SE Q3 2026 Earnings Recap

SAP.DE Q3 2026 Published October 24, 2026

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SAP’s shares rose 6.8% after earnings, with cloud revenue up 25% and cloud backlog up 26% in constant currencies. Investors appear to have rewarded the cloud growth and AI-driven demand highlighted in the call.

Earnings Per Share Beat

$1.91 vs $1.82 est.

+4.9% surprise

Revenue Beat

10371480000 vs 10103820000 est.

+2.6% surprise

Market Reaction

Post-Earnings +6.85%

Oct 26 to Nov 2 -0.82%

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Key Takeaways

Cloud revenue was €6.7 billion, up 25% in constant currencies; proven cloud backlog reached €24.1 billion, up 26%.
Total revenue rose 12% to €10.3 billion, the first quarter above that level in SAP’s history.
Operating profit increased 18% to more than €3 billion.
Nine of SAP’s 50 largest deals included AI and Business Data Cloud, and the company said AI was a main driver of customers’ move to the cloud.
Management emphasized quality over quantity in its AI agents; the transcript excerpt provides no further financial guidance or outlook detail.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit SAP.DE on AllInvestView.

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