SAP (SAP GY) Q4 2025 (EUR): Adj. oper. profit 2.83bln (exp. 2.75bln), Revenue 9.68bln (exp. 9.74bln), Cloud Revenue 5.61bln (exp. 5.64bln), Cloud/Software Revenue 8.62bln (exp. 8.68bln); announced up to EUR 10bln buyback, to start Feb 2026

SAP's Q4 2025 results show an adjusted operating profit beating expectations, which is a positive signal regarding operational efficiency.

Newsquawk StaffPublished 29 Jan 2026, 05:23 UTCOn the live feed at 05:03 UTC, 20 minutes before this page

Newsquawk headlinesUTC

05:45

ABB (ABBN SW) Q4 (USD) basic EPS 0.70 (exp. 0.66), rev. 9.1bln (exp. 8.8bln)

05:39

NVIDIA (NVDA) CEO says he hopes China will allow the H200 to be sold, while he believes China is still deciding and the Co. has not yet received purchase orders for H200

05:03

SAP (SAP GY) Q4 2025 (EUR): Adj. oper. profit 2.83bln (exp. 2.75bln), Revenue 9.68bln (exp. 9.74bln), Cloud Revenue 5.61bln (exp. 5.64bln), Cloud/Software Revenue 8.62bln (exp. 8.68bln); announced up to EUR 10bln buyback, to start Feb 2026

05:02

Prada (1913 HK) cuts ties with more than 200 suppliers after labour abuse audit, according to FT

05:00

Japanese Consumer Confidence (Jan) 37.9 vs. Exp. 38 (Prev. 37.2)

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Other metrics:

Net Profit: 1.89bln
Cloud Revenue: 5.61bln (exp. 5.64bln)
Cloud/Software Revenue 8.62bln (exp. 8.68bln)
Cloud Backlog +25% Y//Y (exp. 24.8%)

For 2026:

EUR 25.8 – 26.2bln cloud revenue at constant currencies (prev. 21.02 bln Y/Y)
EUR 36.3 – 36.8bln cloud and software revenue at constant currencies (prev. 32.54bln Y/Y)
EUR 11.9 – 12.3bln non-IFRS operating profit at constant currencies (prev. 10.42bln).

CEO:

"SAP Business AI has become a main driver for growth as it was included in two thirds of our Q4 cloud order entry, combined with strong AI adoption across the ERP Suite."

Context

However, revenue figures, particularly in the cloud segment, came in slightly below forecasts, highlighting potential challenges in that growth area. The announcement of a significant buyback program could be seen as a vote of confidence from management, aimed at enhancing shareholder value from next year.

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