EarningsQ2 2026 Earnings Report
MX:SAPN Q2 2026 EPS Results
Actual EPS$32.88
Consensus EPS$36.61
Beat/MissMissed by -$3.73
One Year Ago EPS$31.99
MX:SAPN Q2 2026 Revenue Results
Actual Revenue$208.76B
Expected Revenue$205.45B
Beat/MissBeat by +$3.31B
YoY Revenue Growth+12.24%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeAfter Close
Conference CallThursday, July 23, 2026
MX:SAPN Upcoming Earnings
SAP SE's next earnings date is estimated for October 21, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SAPN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong top‑line momentum (CCB +26%, cloud revenue +24%, total revenue +11%), robust cash flow (EUR 3.0B) and successful product and AI platform launches with early customer proof points and high Beta interest. At the same time, management flagged near‑term margin dilution from selective M&A, elevated R&D/tokens and marketing investments, a decline in software license sales, and macro uncertainty that could slightly decelerate backlog growth into year‑end. Overall, the business trajectory and pipeline signal confidence in longer‑term AI‑driven growth, while short‑term profitability is being modestly tempered by investment and integration costs.Company Guidance
Strong Current Cloud Backlog Growth
Current cloud backlog (CCB) grew 26% year-on-year to almost EUR 23 billion, an acceleration versus Q1 and a positive forward-looking indicator for bookings.
Cloud Revenue and Mix Expansion
Cloud revenue grew 24% year-on-year to EUR 6.3 billion; Cloud ERP suite revenue increased 27% and accounted for 88% of total cloud revenue, with SaaS and PaaS growth well above market.
Top-Line and Profitability Performance
Total revenue rose 11% to EUR 9.9 billion. Non-IFRS operating profit was EUR 2.7 billion (up 9%); IFRS operating profit was EUR 2.6 billion (up 8%). Free cash flow for Q2 was robust at EUR 3.0 billion.
Earnings Per Share Strength
IFRS EPS increased 30% to EUR 1.89; non-IFRS EPS increased 6% to EUR 1.59.
Successful Product Launches and Market Reception
Flagship Sapphire event and Autonomous Enterprise launch were well received; beta programs were oversubscribed and >90% of the 50 largest deals embedded AI and SAP Business Data Cloud, supporting H2 momentum.
AI Platform and Go-to-Market Rollout
New Business AI platform (Joule Studio, context/semantic/data layer with Dremio and Reltio, governance) announced; planned releases include ~50 assistants by end-Q3 and >400 Autonomous suite agents by year-end; Joule Work internal rollout (4,000 users) and broader release to accelerate adoption.
Tangible Customer Outcomes from AI
Notable customer results: Amadeus reconciled ~40,000 incorrect transactions autonomously; Norsk Hydro cut BI build time ~75% and report creation time ~50%; Lemvigh-Muller achieved >90% touchless processing and 98% matching accuracy; PwC cut a billing task from 35 to 5 minutes.
Strategic Data & M&A Enhancements
Acquisitions (Dremio, Reltio, Prior Labs) strengthened real-time access to SAP and non‑SAP data, master-data governance and tabular prediction capabilities to drive agent accuracy and product differentiation.
MX:SAPN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed