For the first time, SAP’s quarterly revenue topped €10 billion: third-quarter total revenue came to €10.27 billion, up 13% and up 12% at constant currencies. Cloud revenue rose 26% to €6.67 billion, or 25% at constant currencies, and current cloud backlog reached €24.1 billion, up 28% and 26% at constant currencies, according to the company’s results release.

“For the first time, SAP crossed €10 billion in total quarterly revenue and €3 billion of non-IFRS operating profit,” Chief Financial Officer Dominik Asam said. Non-IFRS operating profit was €3.03 billion, up 18%, and the non-IFRS operating margin widened 1.2 points to 29.5%. Free cash flow climbed 36% to €1.72 billion.

Cloud ERP Suite, which made up most of that cloud total, brought in €5.92 billion, up 29% and 28% at constant currencies. Software licenses revenue fell 9% to €147 million and software support revenue fell 5% to €2.43 billion, and SAP expects the support decline to accelerate in the coming years as more customers move to the cloud. SAP’s investor relations summary also says the quarter’s cloud growth was helped by several quarter-specific effects, mainly a multi-quarter revenue catch-up from customers returning from financial distress, and that the Reltio, Dremio and Prior Labs acquisitions added €49 million to total revenue.

Constant-currency growth picked up from the second quarter. In its July 23 report, SAP posted constant-currency growth of 24% in cloud revenue and 11% in total revenue, with current cloud backlog of €22.9 billion. Backlog growth held at 26% at constant currencies in both quarters.

Chief Executive Officer Christian Klein pointed to the company’s Autonomous Enterprise strategy. “Our Autonomous Enterprise strategy is not just resonating, it is being adopted,” he said, adding that customers “see that Joule Work makes the business case for their transformation more attractive than ever.” WebProNews looked at SAP’s push into AI agents in September, and on Oct. 6 the company demonstrated Joule Work and Joule Assistants at SAP Connect. The company also said it has agreed to acquire TechWolf, an AI work intelligence platform.

For 2026, SAP updated two parts of its outlook and left the rest unchanged:

• Cloud revenue toward the upper end of its €25.8 billion to €26.2 billion range at constant currencies, up 23% to 25%.
• Cloud and software revenue toward the upper end of €36.3 billion to €36.8 billion at constant currencies, up 12% to 13%.
• Still €11.8 billion to €12.2 billion in non-IFRS operating profit and about €10 billion in free cash flow, with current cloud backlog growth expected to slow slightly from 2025’s 25%.

SAP named AstraZeneca, Banco Bilbao and Infineon Technologies among the customers that chose RISE with SAP in the third quarter, and said Decathlon, Fraport and Henkel picked its AI and data products. Cloud revenue was particularly strong in the APJ and EMEA regions and solid in the Americas. SAP’s New York-listed ADRs rose more than 4% in after-hours trading, Investing.com reported.

SAP had bought back about €4.2 billion of its shares as of Sept. 30 under a repurchase program of up to €10 billion that runs through Dec. 31, 2027.