The earnings call reflects a strong financial performance and strategic advancements, particularly in cloud growth and product innovation. However, there are challenges in the U.S. public sector and uncertainties in global trade affecting sales cycles.

Company Guidance

During the SAP Q2 and Half Year 2025 Financial Results Conference Call, several key metrics were highlighted. SAP reported a 28% increase in cloud revenue for Q2, with the Cloud ERP Suite driving this momentum by expanding at a rate of over 30% for 14 consecutive quarters. Total revenue growth continued to accelerate, reaching 12%, and the current cloud backlog grew by 28%, amounting to EUR 18 billion despite currency headwinds. Operating profit surged by 35%, reflecting the strength of SAP’s business model and successful cost management strategies. The non-IFRS cloud gross margin expanded by 1.8 percentage points to 75.2%, contributing to a 31% increase in cloud gross profit. The company's strategic focus on Business AI and transformation programs has helped decouple expense growth from revenue growth, contributing to a robust financial performance and positioning SAP well for the second half of 2025.

Strong Cloud Revenue Growth

Cloud revenue rose 28% in Q2, driven by the Cloud ERP Suite, which has expanded over 30% for 14 consecutive quarters. The current cloud backlog also grew by 28% to EUR 18 billion.

Significant Operating Profit Increase

Q2 operating profit surged 35%, highlighting the strength of SAP's business model and improvements in its cost base.

Major Strategic Partnerships

SAP entered a strategic partnership with Alibaba to roll out SAP Business Suite at Alibaba and address the market potential in China. Other key wins include GSK, Balmain, and Replay.

Successful Product Innovation

SAP released 14 AI agents in H1 and plans to reach 40 by year-end, enhancing productivity across various business functions. The SAP Business Data Cloud has also seen strong adoption.

Resilient Financial Performance

Total revenue grew by 12%, with a strong performance in APJ and EMEA regions. Operating cash flow increased by 71% to EUR 2.6 billion, and free cash flow rose by 83%.

SAP AG (SAP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SAP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	1.76 / -	1.33	―	―	―
Jul 22, 2025	2025 (Q2)	1.66 / 1.76	1.193	47.53% (+0.57)
Apr 22, 2025	2025 (Q1)	1.46 / 1.63	0.867	88.47% (+0.77)
Jan 28, 2025	2024 (Q4)	1.40 / 1.46	1.537	-5.07% (-0.08)
Oct 21, 2024	2024 (Q3)	1.30 / 1.33	1.532	-13.19% (-0.20)
Jul 22, 2024	2024 (Q2)	1.15 / 1.19	1.193	0.00% (0.00)
Apr 22, 2024	2024 (Q1)	1.06 / 0.87	1.394	-37.80% (-0.53)
Jan 23, 2024	2023 (Q4)	1.72 / 1.54	1.085	41.66% (+0.45)
Oct 18, 2023	2023 (Q3)	1.43 / 1.53	1.115	37.40% (+0.42)
Jul 20, 2023	2023 (Q2)	1.29 / 1.19	0.978	21.98% (+0.22)

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

SAP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 22, 2025	$306.29	$290.63	-5.11%
Apr 22, 2025	$250.82	$269.78	+7.56%
Jan 28, 2025	$273.87	$272.07	-0.66%
Oct 21, 2024	$228.04	$230.86	+1.24%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.