SAP posts first €10 billion quarterly revenue, lifts 2026 cloud outlook
+2 new sources since this summary was written
SAP SE reported Q3 2026 total revenue of €10.27 billion, the first quarter ever above €10 billion. Cloud revenue grew 26% on a reported basis (25% in constant currencies) to €6.67 billion and the current cloud backlog rose 28% on a reported basis (26% in constant currencies) to €24.1 billion. The company raised its 2026 cloud‑revenue guidance to the upper end of the €25.8‑26.2 billion range, which represents a 23%‑25% increase in constant currencies versus 2025. CEO Christian Klein called the quarter “outstanding” and highlighted AI‑driven cloud adoption.
Why it matters
The higher cloud‑revenue outlook signals stronger future cash‑flow generation and supports SAP’s full‑year operating‑profit target of €11.8‑12.2 billion (non‑IFRS) at constant currencies, according to the company’s guidance (). Investors should expect the revised outlook to be reflected in analyst forecasts and valuation models.
Key facts
- 1Q3 2026 total revenue was €10.27 billion, up 13% on a reported basis and up 12% in constant currencies. stocktitan.net
- 2Cloud revenue was €6.67 billion, up 26% on a reported basis and up 25% in constant currencies. stocktitan.net
- 3Current cloud backlog reached €24.1 billion, up 28% on a reported basis and up 26% in constant currencies. stocktitan.net
- 4SAP updated its 2026 cloud‑revenue outlook to €25.8‑26.2 billion at constant currencies, a 23%‑25% increase versus 2025. prnewswire.com
- 5The company reaffirmed its 2026 non‑IFRS operating‑profit target of €11.8‑12.2 billion at constant currencies. prnewswire.com
- 6Share repurchase program: €4.2 billion of shares repurchased under the €10 billion buyback program as of September 30 2026. prnewswire.com
Summary written by AlphAI AI Desk from 20 of 23 sources. Not investment advice. Figures are as stated by the linked sources.