Inferra AI / Company / SAP

SAP SE

SAP · Information Technology

Last earnings Oct 26, 2026

Key results

Cloud revenuequarter

26%

Cloud revenue up 26% and up 25% at constant currencies

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Cloud ERP Suite revenuequarter

29%

Cloud ERP Suite revenue up 29% and up 28% at constant currencies

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Revenuequarter

80%

· Total operating expenses (non-IFRS) to grow at 80% to 90% of total revenue growth in 2027.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

AI analysis

Q3 2026 · reported Oct 26, 2026

Based on: Earnings release + Q3 2026 deck + parent 6-K — transcript not held

Headline figures

Metric	Q3 2026	Prior qtr	Year ago
Cloud revenue	26%	22%	—
Cloud ERP Suite revenue	29%	25%	—
Revenue	80%	80%	—

EX-99 · Oct 26, 2026

Guidance · company-stated

effective tax rate

“(non-IFRS) of approximately 29%”

total revenue

“growth in 2026 to remain at similar levels as in 2025 (10.6%”

operating expenses

“(non-IFRS) to grow at 80% to 90%”

Guidance stated in the release's Business Outlook table for Outlook For 2026, SAP is updating its cloud revenue and; no direction stated — figures as stated in the table.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Share Repurchase Program In January 2026, SAP announced a new share repurchase program with an aggregate volume of up to €10 billion and a term until December 31, 2027.

As of September 30, 2026, SAP had repurchased 25,205,983 shares at an average price of €164.79 resulting in a purchased volume of approximately €4.2 billion under the program.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

/23 Quarterly Statement Q3 2026 Walldorf, Germany – October 21, 2026 SAP SE (NYSE: SAP) announced today its financial results for the third quarter ended September 30, 2026

Based on: Earnings release + Q3 2026 deck + parent 6-K — transcript not held

Guidance & outlook

effective tax rate: “effective tax rate (non-IFRS) of approximately 29%”

total revenue: “total revenue growth in 2026 to remain at similar levels as in 2025 (10.6%”

operating expenses: “operating expenses (non-IFRS) to grow at 80% to 90%”

effective tax rate (“Outlook For 2026, SAP is updating its cloud revenue and”)
“effective tax rate (non-IFRS) of approximately 29%”

total revenue (“Outlook For 2026, SAP is updating its cloud revenue and”)
“total revenue growth in 2026 to remain at similar levels as in 2025 (10.6%”

operating expenses (“Outlook For 2026, SAP is updating its cloud revenue and”)
“operating expenses (non-IFRS) to grow at 80% to 90%”

Guidance stated in the release's Business Outlook table for Outlook For 2026, SAP is updating its cloud revenue and; no direction stated — figures as stated in the table.

Capital allocation

Share Repurchase Program In January 2026, SAP announced a new share repurchase program with an aggregate volume of up to €10 billion and a term until December 31, 2027.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

As of September 30, 2026, SAP had repurchased 25,205,983 shares at an average price of €164.79 resulting in a purchased volume of approximately €4.2 billion under the program.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Strategy & priorities

Our Autonomous Enterprise strategy is not just resonating, it is being adopted.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Our customers are investing in the technology behind it – from the cloud and data foundation to our Business AI.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

The acquisition strengthens SAP's ability to embed AI natively into its business software and supports SAP's strategy to lead in enterprise AI at scale.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Risks & headwinds

In addition, IFRS and non-IFRS operating profit growth benefited from prior year negative impacts of €0.1 billion each from a change in case law affecting SAP's other tax litigation and from a workforce transformation, both recorded in the third quarter of 2025.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

(L) Teradata Litigation Matter The Teradata litigation claims had been pending in the U.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

(collectively “Teradata”) filed a civil lawsuit against SAP SE, SAP America, Inc.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

End of February 2026, SAP and Teradata settled the legal dispute and agreed to withdraw all pending lawsuits.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

For more information about the Teradata litigation, see the Notes to the Consolidated Half-Year Financial Statements 2026, Note (G.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

We do not provide an outlook for the effective tax rate (IFRS) due to the uncertainty and potential variability of gains and losses associated with equity securities, which are reconciling items between the two effective tax rates (non-IFRS and IFRS).

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

What changed vs prior quarter

Cloud revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Cloud ERP Suite revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗SAP SE — Earnings release (8-K exhibit)EX-99Oct 26, 2026

Documents

Earnings deck slides

0 decks with slide view

SAP SE — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

SAP SE — SAP 2026 Q3 Presentation (Q3 2026) — Slide view unavailable — the original PDF could not be retrieved for segmentation (HTTP Error 403: Forbidden).

Competitors