SAP: Q3 cloud revenue up 25% YoY to €6.67B, vs. €6.57B est., total revenue up 12% to €10.27B, current cloud backlog up 26% to €24.1B, all in constant currencies (Christina Kyriasoglou/Bloomberg)

SAP achieved a quarterly revenue milestone of €10 billion for the first time on Wednesday. According to Techmeme, cloud revenue rose 25% year-over-year to €6.67 billion, exceeding an estimate of €6.57 billion. CNA - Business reported that cloud revenue rose 26% to €6.67 billion during the third quarter, while non-IFRS operating profit increased 18% to €3.03 billion.

The company's current cloud backlog grew by 26% to €24.14 billion at constant currencies, which CNA - Business notes was ahead of the 24% to 25% growth forecasted by UBS. SAP has moved its 2026 revenue expectations to the upper end of its outlook range. It expects 2026 subscription revenue to reach the top of its €25.8 billion to €26.2 billion forecast, representing an increase of 23% to 25%. Including its classic license business, the company sees total revenue of €36.3 billion to €36.8 billion.

SAP maintained its yearly operating profit outlook of €11.8 billion to €12.2 billion at constant currencies. CNA - Business describes the company's order book as a gauge of global enterprise tech spending.

Brief written by urgent.news from Techmeme, CNA - Business, Channel News Asia — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.