The earnings call highlights SAP's strong financial performance, with significant growth in cloud revenue, operating profit, and free cash flow, supported by strategic partnerships and AI-driven innovations. However, the company faces challenges from global market uncertainties, declining software license revenue, and elongated sales cycles due to trade policies.

Company Guidance -

Q3 2025

During the SAP Q2 2025 Financial Results Conference Call, management highlighted several key metrics showcasing the company's strong performance. Cloud revenue rose by 28%, bolstered by the Cloud ERP Suite, which has maintained growth of over 30% for 14 consecutive quarters. Total revenue increased by 12%, while operating profit surged by 35%, reflecting the impact of cost optimizations and product innovations like Business AI. SAP's current cloud backlog grew by 28%, reaching EUR 18 billion, despite currency headwinds. The call also discussed strategic partnerships and customer wins, including collaborations with Alibaba and significant deals with GSK, Delta, and L'Oreal. With a robust pipeline for the second half of 2025, SAP remains optimistic about sustaining momentum despite global market uncertainties and elongated sales cycles in certain sectors.

Strong Cloud Revenue Growth

Cloud revenue increased by 28% year-on-year, driven by the Cloud ERP Suite, which grew by 34% in Q2. Current cloud backlog reached EUR 18.1 billion, up 28%.

Operating Profit Surge

Non-IFRS operating profit increased by 35% to EUR 2.6 billion, showcasing strong margin expansion and effective cost management.

Record Free Cash Flow

Free cash flow increased by 83% to EUR 2.4 billion, supported by higher profitability and positive working capital developments.

Strategic Partnerships and Customer Wins

Key partnerships and customer wins included Alibaba, GSK, Balmain, Replay, BMW, and L'Oreal, highlighting SAP's diverse portfolio and strong market presence.

AI and Innovation Initiatives

SAP's AI initiatives are driving productivity, with internal use cases leading to significant efficiency gains. The company plans to release a total of 40 AI agents by the end of the year.

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)	1.78 / -	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.