SAP SE says Q3 total revenue up 13%, up 12% at constant currencies
SAP•SAP SE reported Q3 total revenue growth of 13%, or 12% at constant currencies, and adjusted EBIT of €3.03 billion. It expects 2026 cloud revenue toward the upper end of its €25.8 billion to €26.2 billion forecast range at constant currencies.
1. Q3 results
SAP SE reported Q3 total revenue growth of 13%, or 12% at constant currencies. Adjusted EBIT was €3.03 billion, compared with an IBES estimate of €2.959 billion; EBIT was €2.93 billion, and cloud revenue was €6.668 billion.
2. 2026 outlook
SAP expects 2026 cloud revenue toward the upper end of its €25.8 billion to €26.2 billion range at constant currencies, and cloud and software revenue toward the upper end of its €36.3 billion to €36.8 billion range. It expects non-IFRS operating profit of €11.8 billion to €12.2 billion at constant currencies and about €10 billion in free cash flow at actual currencies.
3. Revenue growth outlook
SAP expects constant-currency total revenue growth in 2026 to remain at a similar level to 2025's 10.6% and to accelerate in 2027. In January 2026, it announced a share repurchase program of up to €10 billion through Dec. 31, 2027.
