Europe's largest software maker SAP reported six percent revenue growth to 9.6 billion euros in Q1 2026, driven by cloud software revenues. CEO Christian Klein highlighted momentum in artificial intelligence. The company expects only moderate growth for the full year.
SAP announced its quarterly figures from Walldorf after US market close. Revenue rose six percent year-over-year to nearly 9.6 billion euros. Cloud software revenues grew 19 percent, with the current cloud backlog (CCB) up 20 percent to 21.9 billion euros at end-March. Adjusted EBIT increased 17 percent to almost 2.9 billion euros, and net profit rose eight percent to 1.9 billion euros.
Demand for AI-powered solutions among enterprise customers was a key driver, as CEO Christian Klein emphasized: «We are growing significantly faster than the market, continuing to expand our market share, and seeing customers increasingly use more solutions from our suite as well as our AI offerings.» In a conference call, Klein said: “We had a good start to the year despite an uncertain business environment.”
For 2026, SAP forecasts currency-adjusted cloud growth of 23 to 25 percent and total revenue growth similar to 2025's 11 percent. Acceleration is planned for 2027, with operating profit up 14 to 18 percent. The outlook assumes de-escalation of the Middle East conflict. A settlement with Teradata for over 400 million euros impacted cash flow in the quarter.
The stock rose up to 9.5 percent in after-hours US trading. Klein noted SAP is not entirely immune to the Middle East war, but customers rely more on its products in uncertain times.
