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๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: โฌ10.27B (Est. โฌ10.10B) โ , +13% YoY.
โข Non-IFRS Basic EPS: โฌ1.89, +19% YoY.
โข IFRS Basic EPS: โฌ1.96, +14% YoY.
โข Cloud Revenue: โฌ6.67B, +26% YoY (+25% CC).
โข Cloud ERP Suite Revenue: โฌ5.92B, +29% YoY.
โข Current Cloud Backlog: โฌ24.14B, +28% YoY (+26% CC).
โข Non-IFRS Operating Profit: โฌ3.03B, +18% YoY.
โข Non-IFRS Operating Margin: 29.5%, +120 bps YoY.
โข Free Cash Flow: โฌ1.72B, +36% YoY.
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๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข FY2026 Cloud Revenue: Toward upper end of โฌ25.8Bโโฌ26.2B (+23%โ25% CC).
โข FY2026 Cloud & Software Revenue: Toward upper end of โฌ36.3Bโโฌ36.8B (+12%โ13% CC).
โข FY2026 Non-IFRS Operating Profit: โฌ11.8Bโโฌ12.2B CC, unchanged.
โข FY2026 Free Cash Flow: ~โฌ10B, unchanged.
โข FY2027 Total Revenue Growth: Expected to accelerate.
โข FY2026 Current Cloud Backlog Growth: Slight deceleration expected from 25% CC growth in 2025.
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 revenue beat consensus by ~1.7%, surpassing โฌ10B in quarterly sales for the first time.
โข Cloud revenue grew 26% to โฌ6.67B, while current cloud backlog surged 28% to โฌ24.14B.
โข Cloud growth benefited from a multi-quarter revenue catch-up involving customers returning from financial distress.
โข Non-IFRS operating profit exceeded โฌ3B for the first time, with margins expanding 120 bps to 29.5%.
โข SAP now expects FY2026 cloud and cloud/software revenue toward the upper ends of existing guidance ranges.
โข Software support revenue declined 5% YoY as customers continued migrating to cloud offerings.
โข SAP repurchased ~โฌ4.2B in shares under its โฌ10B buyback program through September.
โข AI momentum continued with Joule Work, Dremio and Prior Labs acquisitions, and the announced TechWolf acquisition.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โFor the first time, SAP crossed โฌ10 billion in total quarterly revenue and โฌ3 billion of non-IFRS operating profit, reflecting the strength and scalability of our business model.โ