Here are the key points from SAP's Q3 2026 quarterly report: [Q3 2026 Qu...eilung.pdf]
🚀 Strong cloud growth
- The current cloud backlog rose by 28% to €24.1 billion (currency-adjusted +26%). [Q3 2026 Qu...eilung.pdf]
- The Cloud revenue rose by 26% to €6.7 billion .
- Revenue from the Cloud ERP Suite even grew by 29%.
💰 Record quarter for revenue and profit
- Revenue: €10.27 billion (+13%).
- Operating profit (IFRS): €2.93 billion (+18%).
- Net income: €2.27 billion (+11%).
- Earnings per share: €1.96 (+14%).
- For the first time in a single quarter, SAP exceeded €10 billion in revenue and €3 billion in non-IFRS operating profit.
💵 Strong cash flows
- Operating cash flow: €1.92 billion (+28%).
- Free cash flow: €1.72 billion (+36%).
📈 2026 full-year outlook raised
SAP now expects:
- Cloud revenue at the the upper end of the forecast range of €25.8 to 26.2 billion.
- Cloud and software revenue at the the upper end of €36.3 to €36.8 billion.
- Free cash flow of approximately €10 billion.
🔄 Share buyback
- New buyback program of up to €10 billion.
- As of the end of September, 25.2 million shares for approximately €4.2 billion had already been repurchased.
🤖 AI and Cloud Strategy
- The CEO Christian Klein highlights the strong demand for cloud, data, and AI solutions, as well as the implementation of the “autonomous enterprise” strategy with Joule Work.
- SAP completed the acquisitions of Dremio and Prior Labs and announced the acquisition of TechWolf .
SAP delivered a very strong quarter with double-digit revenue and profit growth, strong cloud momentum, and an upwardly revised outlook. Particularly positive are the sharply rising cloud backlog, record margins, and strong cash flow generation.
