SAP reported better-than-expected second-quarter results, easing concerns that AI tools might quickly disrupt its enterprise software business. Revenue rose 11% to €9.88 billion, whilst cloud sales jumped 24% and current cloud backlog climbed 26% to €22.9 billion. The German software company's shares rose following the update, despite a small cut to operating profit guidance linked to recent acquisitions. The results addressed investor fears that AI agents could automate business processes and undermine demand for traditional enterprise software. SAP's cloud business remained strong as customers continued migrating from on-premises systems to cloud subscriptions. The company maintained its cloud revenue and free cash flow targets whilst trimming full-year non-IFRS operating profit guidance by approximately €100 million, citing acquisitions including Dremio and Prior Labs.

SAP used its second-quarter earnings call to highlight growing adoption of its Autonomous Enterprise strategy, emphasising artificial intelligence and cloud momentum while managing margin pressure from acquisitions and AI spending. CEO Christian Klein said AI and SAP Business Data Cloud featured in over 90% of the company's 50 largest deals. The firm reported current cloud backlog of €22.9 billion, up 27% year over year, with cloud revenues rising 22% to €6.3 billion. Second-quarter operating profit increased 8% under IFRS, though non-IFRS operating margin reached 27.8%. CFO Dominik Asam attributed slower profit growth to increased R&D investment and marketing spending. The company reported earnings per share of $1.85, missing estimates of $2, whilst revenues of $11.48 billion exceeded consensus estimates.

SAP reported strong second-quarter results for 2026, with current cloud backlog rising 26% at constant currencies to €22.9 billion. Cloud revenue increased 24% at constant currencies, whilst Cloud ERP Suite revenue grew 27%. Total revenue climbed 11% at constant currencies. The German software giant updated its full-year non-IFRS operating profit outlook to €11.8–12.2 billion, down slightly from previous guidance, to reflect the dilutive impact exceeding €100 million from its recently completed acquisitions of Dremio and Prior Labs. SAP continues to expect cloud revenue of €25.8–26.2 billion and approximately €10 billion in free cash flow for 2026. CEO Christian Klein attributed the performance to the company's Autonomous Enterprise strategy, noting strong momentum across its Autonomous Suite and Business AI Platform.