SAP Stock Rises 5% After Q2 Revenue Beat and Cloud Growth
TLDR
- SAP Q2 revenue came in at €9.88B, beating analyst forecasts of €9.85B
- Cloud revenue rose 22% year-over-year to €6.28B
- Current cloud backlog grew 26% in constant currency to €22.90B
- U.S.-listed SAP stock rose 5.1% after hours; Germany-listed shares rose 6%
- Full-year non-IFRS operating profit guidance raised slightly to €11.9B–€12.3B
SAP beat second-quarter revenue expectations on the back of strong cloud growth and rising demand for its AI business platform.
$SAP Q2’26 EARNINGS HIGHLIGHTS
🔹 Non-IFRS EPS: €1.59 (Est. €1.75) 🔴
🔹 Revenue: €9.88B (Est. €9.85B) 🟢; +9% YoY
🔹 Cloud Revenue: €6.28B (Est. €6.26B) 🟢; +22% YoY
🔹 Cloud ERP Suite Revenue: €5.53B; +25% YoY
🔹 Current Cloud Backlog: €22.93B; +27% YoYFY26 Guidance:…
— Wall St Engine (@wallstengine) July 23, 2026
The German software company reported Q2 non-IFRS revenue of €9.88 billion ($11.24B), above the €9.85B analyst consensus. Cloud revenue jumped 22% year-over-year to €6.28 billion. U.S.-listed SAP stock rose 5.1% after hours, while Germany-listed shares gained 6% on the news.
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