Core Insights - SAP reported third-quarter earnings of 1.59 euros per share, a 37% increase year-over-year, but revenue of 9.076 billion euros (approximately $10.54 billion) fell short of analyst expectations [1][4] - Cloud computing subscriptions and support revenue rose 27% to 5.29 billion euros (about $6.14 billion), slightly below estimates [2] - Current Cloud Backlog (CCB) increased by 23% to 18.8 billion euros (about $21.8 billion), with a constant currency growth of 27% [3] Financial Performance - SAP's adjusted EPS was higher than the estimated 1.49 euros, while revenue was below the expected 9.11 billion euros [1] - The company's CCB growth was below the anticipated 27%, indicating potential concerns regarding future revenue recognition [3] Market Reaction - Following the earnings report, SAP stock initially fell in extended trading but later rose over 1% to 279 [4] - As of the latest session, SAP stock had advanced 14% in 2025 [4] Legal and Competitive Landscape - The U.S. Supreme Court declined to hear SAP's appeal regarding a lawsuit from Teradata, which accused SAP of antitrust violations [4] - SAP is transitioning from software-license sales to subscription-based cloud services, similar to its competitor Oracle [4]

This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Dive Brief:  SAP saw cloud revenue jump 22% in Q3 2025 despite uncertainty surrounding U.S. trade policy earlier this year, executives said Wednesday during the company’s earnings call.  The growth marked the fifth consecutive quarter of high cloud revenue increases, SAP CEO Christian Klein said. However, it still marks a decline in growth from 24% in Q2. “For Q4, we are e ...

Key Takeaways SAP's Q3 non-IFRS EPS rose 29% year over year to 1.59 euros, driven by strong cloud and AI demand.Cloud revenues climbed 22% to 5.29B euros, with Cloud ERP Suite up 26% and backlog up 23%.SAP raised its 2025 profit and cash flow outlook, with free cash flow expected up to 8.2B euros.SAP SE ((SAP) reported third-quarter 2025 non-IFRS earnings of €1.59 ($1.86) per share, climbing 29% from the year-ago quarter’s levels. The Zacks Consensus Estimate was pegged at $1.69.Driven by robust cloud growt ...

Shares in SAP were volatile in early trading on Thursday after Europe's largest software maker forecast full-year cloud revenue at the lower end of its outlook range. ...

The world of enterprise AI is dominated by U.S. names from Microsoft to Salesforce, but Europe has a major player that is pushing hard into the space: SAP.In an exclusive interview with CNBC's "Europe Early Edition," SAP CEO Christian Klein said that AI is "the number one reason" why customers are signing deals with the firm.  "After we close Q4, actually, 80, 85% of our revenue for next year is already done. So, [a] good pipeline for Q4 and with that, when we close out the year, our customers, also our inv ...

Core Insights - SAP's third-quarter revenue fell short of expectations, with cloud revenue growth at the slowest rate since 2023, but earnings exceeded estimates, increasing by 12% [2] - The company has guided its full-year operating profit to the upper end of its range, indicating a positive outlook despite the lower cloud revenue guidance [2] Financial Performance - Cloud revenue increased by 27%, and the current cloud backlog also grew by 27%, showcasing strong performance in this segment [4] - SAP's core ERP solutions grew by over 30%, indicating market share gains as peers grow in the mid-teens [5] Market Outlook - The pipeline for Q4 is strong, with expectations for significant revenue as many companies are looking to spend their budgets [5] - AI use cases are becoming increasingly relevant, with customers seeking solutions to enhance supply chain resilience and reduce costs [5][7] AI Integration - AI is embedded in every deal in the Q4 pipeline, highlighting its importance in customer decision-making [12] - The company is focusing on delivering AI value creation rather than competing in the infrastructure space, which is seen as a commodity [12][13] Customer Adoption - There is a notable shift in customer sentiment towards cloud solutions, with a consensus that moving to the cloud is essential for accessing innovation and AI capabilities [10] - Customers are increasingly adopting AI tools for practical applications, such as sourcing and procurement, leading to higher usage rates [7] Future Expectations - The order backlog for the next year looks promising, with 80-85% of next year's revenue already secured after Q4 [14] - The company remains optimistic about closing the year strongly, which will positively influence investor outlook for the upcoming year [14]

SAP第三季度IFRS营业利润增长12%至24.9亿欧元，非IFRS营业利润增长14%至25.7亿欧元。非IFRS每 股基本收益为1.59欧元，高于分析师预期的1.49欧元。 （文章来源：证券时报网） 第三季度经营现金流增长7%至15亿欧元，自由现金流增长5%至12.7亿欧元。云业务积压订单增长23% 至188.4亿欧元。云业务收入增长22%（按不变汇率计算增长27%）至52.9亿欧元，略低于分析师预期的 53.3亿欧元。软件授权收入下降43%（按不变汇率计算下降42%）至1.6亿欧元。云和软件总收入增长8% （按不变汇率计算增长12%）至80.2亿欧元。 ...

欧洲市值最高的软件公司SAP SE公布第三季度财报，其云业务营收未达分析师预期，股价盘后一度下跌4%。媒体称，这显示贸易争端和经济疲软正对 该公司销售造成压力。 以下是SAP第三季度财报要点： 欧洲市值最高的软件公司SAP公布第三季度财报，整体业绩稳健但云业务收入略低于市场预期，导致股价盘后一度下跌约4%。公司维持对2025全年增长 展望，预计云营收将位于指引区间低端，营业利润将处于高端。管理层表示，尽管宏观环境不确定，SAP云业务仍展现韧性；分析师则指出，贸易争端 及制造业客户支出放缓对季度表现造成压力。 主要财务数据： 营业利润： IFRS营业利润增长12%，至24.9亿欧元，营业利润率上升1.3个百分点至27.4%。非IFRS营业利润增长14%，至25.7亿欧元，按不变汇率计算增长19%； 非IFRS营业利润率上升1.8个百分点至28.3%。 每股收益： IFRS每股基本收益增长37%，至1.72欧元；非IFRS每股基本收益增长29%，至1.59欧元，高于分析师预期的1.49欧元。 现金流： 第三季度经营现金流增长7%，至15亿欧元，自由现金流增长5%，至12.7亿欧元。 云业务数据： 2025全年业绩 ...

自首席执行官Christian Klein推动公司战略转型——从销售部署在本地服务器上的传统软件许可转向订 阅服务以来，投资者一直密切关注SAP云业务的销售进展。上一季度，SAP管理层就曾预警，全球贸易 摩擦与美元走弱可能会影响客户的投资决策。 首席财务官Dominik Asam在财报中评论道，尽管"宏观经济背景存在不确定性"，但公司仍保持了业务 增长势头。 财报公布后，SAP的美国存托凭证(ADR)在盘后交易中一度下跌约6%。不过，该公司在法兰克福交易的 股价今年整体波动不大。 德国软件巨头SAP SE(SAP.US)第三季度云业务营收低于分析师预期，这一现象表明贸易争端与经济疲 软正对其销售造成压力。 根据这家总部位于德国沃尔多夫的公司周三发布的声明，经调整后，第三季度云业务营收为52.9亿欧元 (约合61亿美元)，而市场预期为53.3亿欧元，同比增速达22%，但这是自2023年第四季度以来最慢的增 速。整体营收增长7%，达到90.8亿欧元(约合105.9亿美元)，同样未能达到分析师预期的91.7亿欧元。 非IFRS准则下营业利润增长14%，达到25.7亿欧元，略高于25.5亿欧元的预期。用于向投资者分配 ...

SAP (NYSE:SAP) Q3 2025 Earnings Call October 22, 2025 05:00 PM ET Company ParticipantsJohannes Schaller - DirectorDominik Asam - CFOChristian Klein - CEOJackson Ader - Managing DirectorAdam Wood - Managing Director of Equity ResearchFrederic Boulan - Head of European Software ResearchCharlie Brennan - SVP of Equity ResearchAlexandra Steiger - Global Head of Investor RelationsConference Call ParticipantsNone - AnalystMichael Briest - Managing Director and Senior Equity AnalystNone - AnalystMohammed Moawalla ...