SAP’s total revenue reached €1.027 billion in its third-quarter 2026 results, exceeding €1 billion for the first time in its history. At the same time, the company signaled caution about the impact of macroeconomic conditions on securing fourth-quarter bookings.
SAP announced its third-quarter 2026 results, with total revenue up 13% year on year at €1.027 billion, exceeding €1 billion for the first time in a quarter. Non-IFRS operating profit rose 18% to €303 million, while cloud revenue increased 26% to €666.8 million, reflecting solid performance in cloud-related metrics.
Revenue from Cloud ERP Suite, the core cloud business, reached €592.4 million, up 28% on a constant-currency basis, increasing cloud revenue’s share of total revenue to approximately 65%. Current cloud remaining performance obligations stood at €2.4144 billion, up 28% year on year and ahead of UBS estimates.
Full-year cloud revenue guidance was raised, while the outlook for full-year non-IFRS operating profit and free cash flow was maintained, with the possibility of an upside indicated. For the fourth quarter, however, higher oil prices and interest rates were identified as macroeconomic factors that could constrain the conversion of bookings.
SAP also highlighted the acceleration of its AI strategy and the expansion of the Joule platform. It reported that AI and BDC products were included in 90% of up to 50 transactions, along with expanded natural-language interaction through Joule and initiatives involving 40 assistants and 300 agents. The share buyback of up to €1 billion began in January 2026 and remains valid through the end of 2027.