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

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."