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Edge17 Oct 2025
A Castle in the Sky: The Story of Oracle
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SAP
SAP (SAP) investor relations material
SAP Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
Q3 revenue was €10.270bn, up 13% reported and 12% at constant currencies; cloud revenue rose 26% reported and 25% at constant currencies.
Current cloud backlog reached €24.144bn, up 28% reported and 26% at constant currencies.
IFRS and non-IFRS operating profit each increased 18%, to €2.930bn and €3.030bn, respectively.
Customer investment continued in cloud, data and Business AI, with Joule Work supporting transformation business cases.
Financial highlights
Cloud and software revenue was €9.249bn, up 15% reported and 14% at constant currencies; services revenue was €1.021bn, down 4% and 5%, respectively.
Software licenses and support revenue was €2.581bn, down 5% reported and 6% at constant currencies.
IFRS profit after tax was €2.269bn, up 11%; non-IFRS profit after tax was €2.171bn, up 17%.
Q3 growth included a multi-quarter revenue catch-up from customers returning from financial distress; acquisitions contributed €49m revenue and reduced IFRS/non-IFRS operating profit by €59m/€39m.
9M revenue was €29.70bn, up 10%; IFRS and non-IFRS net income rose 15% to €6.42bn and 14% to €6.00bn, respectively.
Outlook and guidance
FY 2026 cloud revenue guidance is €25.8–26.2bn at constant currencies, up 23%–25%, with outlook toward the upper end.
FY 2026 cloud and software revenue guidance is €36.3–36.8bn at constant currencies, up 12%–13%, with outlook toward the upper end.
FY 2026 non-IFRS operating profit guidance remains €11.8–12.2bn at constant currencies, up 13%–17%; free cash flow outlook is ~€10bn.
Current cloud backlog growth is expected to slightly decelerate; the full-year backlog outlook assumes a stable Q4 macroeconomic environment.
2026 constant-currency total revenue growth is expected near 2025’s 10.6%, then accelerate in 2027; 2027 non-IFRS operating expense growth is expected at 80%–90% of revenue growth.
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Latest events from SAP
- AI and cloud migration drive growth, with 400 new agents and Joule Work launching this fall.SAP
Goldman Sachs Communacopia + Technology Conference 2026 - Cloud revenue up 22% year-over-year, fueling strong growth in profit and cash flow.SAPQ2 2026
- Cloud, AI, and data platform growth drive revenue acceleration and margin expansion.SAPGoldman Sachs Communicopia + Technology Conference 2025
- SAP unveils new loyalty and engagement solutions, driving AI-powered, personalized customer experiences.SAPSAP Connect Virtual 2025 Keynote
- Record cloud growth, higher dividend, and all proposals approved amid governance and diversity debate.SAPAGM 2025
- Cloud backlog hit €77.3B, cloud revenue rose 23%, and a €10B buyback was announced.SAPQ4 2025
- Cloud revenue up 25%, non-IFRS operating profit up 35%, and 2024 outlook reaffirmed.SAPQ2 2024
- Strong cloud and AI growth, boosted by WalkMe acquisition and operational efficiency gains.SAPInvestor Update
- Cloud, AI, and data drive growth, with efficiency and skills transformation fueling strong results.SAPFinancial Analyst Conference
Next SAP earnings date
Q4 202628 Jan, 2027
SAP
Next SAP earnings date
Q4 202628 Jan, 2027
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Frequently asked questions
A Software Titan
SAP SE, most commonly referred to as SAP, is a German multinational company with customers and operations in all corners of the world. The company is headquartered in Germany but trades on both the NYSE and the FWB. SAP provides businesses with software to manage operations and customer relations and its products aid in organizing financial records, human resources, and supply chain tasks, streamlining businesses' everyday activities.
Founded by Engineers
SAP was founded in 1972 by five former IBM engineers with an entrepreneurial spirit. From humble beginnings in Germany, the company started out with only one customer and just a handful of employees and one customer. The idea behind the company was to build software that integrated business processes and enabled data processing in real time. Just a few years after the company was founded, SAP started rolling out its first software programs and started its journey toward the global powerhouse that it is today.
The Practical Application of SAP’s Products
SAP's software solutions are used across various business operations. Their Enterprise Resource Planning (ERP) system, for instance, consolidates business processes like procurement, manufacturing, sales, and accounting into a unified, interactive platform. This simplifies data management and decision-making, increasing operational efficiency.
SAP's Customer Relationship Management (CRM) software, meanwhile, aids companies in managing and analyzing customer interactions, helping to improve business relationships and drive sales growth. Furthermore, with tools like SAP SuccessFactors, companies can effectively manage their human resources, from talent acquisition to performance reviews.
Heavy-Hitting Customers
SAP's customer base is as diverse as its product portfolio, spanning various sectors including manufacturing, retail, healthcare, and financial services, among others. From small businesses to Fortune 500 companies, SAP's robust and scalable solutions are trusted by organizations of all sizes. Some notable companies using their products include names like Apple and Amazon. Simply having two such influential companies as customers, it becomes clear what type of impact SAP has in the modern corporate landscape.