Overview
- SAP now expects full‑year cloud revenue growth at the lower end of its 26–28% currency‑adjusted range, citing softer contract activity.
- In Q3, cloud revenue rose 22% to €5.29 billion, total revenue increased 7% to €9.08 billion, and adjusted operating profit grew 14% to €2.57 billion, with net income up 42% to €2.05 billion.
- The company aims for the upper end of its 26–30% adjusted operating profit growth target and signaled stronger free cash flow, guiding to about €8 billion for the year.
- Shares fell in U.S. after‑hours trading, dropping at times by more than 4% following the guidance update.
- Executives cited cautious customers and longer decision cycles, continued cloud migration and AI initiatives such as RISE with SAP and Joule, and noted an ongoing EU antitrust probe into maintenance and support practices.