Cloud revenue growth
Cloud subscriptions are SAP’s main growth engine, so a slowdown could weigh on the shares.
SAP reports its Q4 FY2026 results on 28 January 2027, before the market opens. Analysts expect earnings per share of 2.20 USD and revenue of 12.01B USD.
In Q3 FY2026, reported on 21 October 2026, SAP earned 2.18 USD a share against the 2.03 USD analysts expected (+7.4%), on revenue of 11.50B USD against 11.38B USD (+1.0%).
| Period | Report date | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth | Next-day move |
|---|---|---|---|---|---|---|---|---|---|---|
| Q4 FY2026 | 2.20 | — | — | +16.40% | 12.01B | — | — | +3.98% | — | |
| Q3 FY2026 | 2.03 | 2.18 | +7.39% | +17.20% | 11.38B | 11.50B | +1.02% | +9.10% | +1.7% | |
| Q2 FY2026 | 2.00 | 1.85 | -7.50% | +8.82% | 11.30B | 11.24B | -0.55% | +6.12% | -1.8% | |
| Q1 FY2026 | 1.92 | 2.01 | +4.69% | +33.11% | 11.19B | 11.19B | -0.07% | +9.34% | -6.2% | |
| Q4 FY2025 | 1.77 | 1.89 | +6.78% | +29.45% | 11.39B | 11.55B | +1.41% | +18.18% | -15.3% | |
| Q3 FY2025 | 1.74 | 1.86 | +6.90% | +39.85% | 10.62B | 10.54B | -0.72% | +15.12% | -1.5% | |
| Q2 FY2025 | 1.63 | 1.70 | +4.29% | +54.55% | 10.52B | 10.59B | +0.72% | +17.84% | -0.5% | |
| Q1 FY2025 | 1.39 | 1.51 | +8.63% | +86.42% | 9.99B | 10.23B | +2.35% | +18.92% | +0.6% | |
| Q4 FY2024 | 1.51 | 1.46 | -3.31% | +3.55% | 9.45B | 9.78B | +3.45% | +5.89% | -0.6% | |
| Q3 FY2024 | 1.31 | 1.33 | +1.53% | -8.28% | 9.25B | 9.16B | -1.00% | +11.87% | -0.5% | |
| Q2 FY2024 | 1.09 | 1.10 | +0.92% | -3.51% | 8.92B | 8.99B | +0.75% | +6.74% | +1.6% | |
| Q1 FY2024 | 1.07 | 0.81 | -24.30% | -36.22% | 8.61B | 8.60B | -0.07% | +5.35% | +1.4% | |
| Q4 FY2023 | 1.58 | 1.41 | -10.76% | +42.42% | 9.02B | 9.23B | +2.30% | +0.82% | +0.1% | |
| Q3 FY2023 | 1.36 | 1.45 | +6.62% | +30.63% | 8.29B | 8.18B | -1.22% | +4.81% | -2.2% | |
| Q2 FY2023 | 1.26 | 1.14 | -9.52% | +18.75% | 8.40B | 8.42B | +0.23% | +9.91% | -6.3% | |
| Q1 FY2023 | 1.20 | 1.27 | +5.83% | +27.00% | 8.02B | 8.17B | +1.77% | +7.08% | +5.6% | |
| Q4 FY2022 | 1.37 | 0.99 | -27.74% | -46.77% | 9.03B | 9.16B | +1.41% | +1.21% | -1.8% | |
| Q3 FY2022 | 1.26 | 1.11 | -11.90% | -36.21% | 7.51B | 7.81B | +3.94% | -1.72% | +5.8% | |
| Q2 FY2022 | 1.08 | 0.96 | -11.11% | -45.14% | 7.59B | 7.66B | +0.91% | -3.19% | -2.2% | |
| Q1 FY2022 | 1.23 | 1.00 | -18.70% | -28.57% | 7.56B | 7.63B | +0.87% | +2.15% | -2.4% | |
| Q4 FY2021 | 1.69 | 1.86 | +10.06% | +10.06% | 8.71B | 9.05B | +3.86% | -2.15% | -7.4% | |
| Q3 FY2021 | 1.32 | 1.74 | +31.82% | +2.35% | 7.94B | 7.94B | +0.06% | +3.53% | -2.9% | |
| Q2 FY2021 | 1.23 | 1.75 | +42.28% | +35.66% | 6.71B | 7.91B | +17.94% | +4.30% | -3.6% | |
| Q1 FY2021 | 0.92 | 1.40 | +52.17% | +64.71% | 5.01B | 7.47B | +48.98% | +5.20% | +1.6% | |
| Q4 FY2020 | 1.63 | 1.69 | +3.68% | -7.14% | 7.26B | 9.25B | +27.32% | +1.35% | -3.3% | |
| Q3 FY2020 | 1.30 | 1.70 | +30.77% | +30.77% | 7.52B | 7.67B | +1.98% | +3.08% | -23.2% | |
| Q2 FY2020 | 1.28 | 1.29 | +0.78% | +5.74% | 7.19B | 7.59B | +5.52% | +0.77% | +3.9% | |
| Q1 FY2020 | 0.92 | 0.85 | -7.61% | -16.67% | 6.66B | 7.10B | +6.60% | +3.71% | -5.4% | |
| Q4 FY2019 | 1.73 | 1.82 | +5.20% | +20.53% | 9.35B | 9.12B | -2.47% | +2.78% | -2.8% | |
| Q3 FY2019 | 1.20 | 1.30 | +8.33% | +14.04% | 6.81B | 7.44B | +9.29% | +6.06% | +2.8% | |
| Q2 FY2019 | 1.20 | 1.22 | +1.67% | +4.27% | 7.45B | 7.53B | +1.10% | +8.10% | -5.2% | |
| Q1 FY2019 | 0.94 | 1.02 | +8.51% | +39.73% | 6.97B | 6.84B | -1.84% | +5.56% | +12.3% | |
| Q4 FY2018 | 1.55 | 1.51 | -2.58% | -14.69% | 8.84B | 8.88B | +0.43% | +11.16% | -3.9% | |
| Q3 FY2018 | 1.10 | 1.14 | +3.64% | +12.87% | 7.12B | 7.02B | -1.43% | +6.67% | -7.6% | |
| Q2 FY2018 | 1.18 | 1.17 | -0.85% | +13.59% | 6.21B | 6.96B | +12.11% | +5.73% | -3.8% | |
| Q1 FY2018 | 0.73 | 0.73 | 0.00% | -6.41% | 7.38B | 6.48B | -12.17% | +14.51% | +3.1% | |
| Q4 FY2017 | 1.55 | 1.77 | +14.19% | +16.45% | 6.46B | 7.98B | +23.55% | +13.22% | +2.3% | |
| Q3 FY2017 | 1.01 | 1.01 | 0.00% | -0.98% | 7.38B | 6.58B | -10.83% | +9.14% | +1.4% | |
| Q2 FY2017 | 1.02 | 1.03 | +0.98% | +25.61% | 7.38B | 6.59B | -10.73% | +13.20% | +0.2% | |
| Q1 FY2017 | 0.77 | 0.78 | +1.30% | +21.88% | 5.54B | 5.66B | +2.27% | +5.42% | +0.8% | |
| Q4 FY2016 | 1.45 | 1.52 | +4.83% | +8.57% | 7.04B | 7.05B | +0.17% | +1.84% | +0.4% | |
| Q3 FY2016 | 1.05 | 1.02 | -2.86% | +4.08% | 5.90B | 6.03B | +2.20% | +8.00% | +1.7% | |
| Q2 FY2016 | 0.89 | 0.82 | -7.87% | -6.82% | 6.01B | 5.82B | -3.13% | +5.61% | +5.5% | |
| Q1 FY2016 | 0.71 | 0.64 | -9.86% | +1.59% | 6.23B | 5.37B | -13.77% | +9.99% | -0.1% | |
| Q4 FY2015 | 1.38 | 1.40 | +1.45% | +6.87% | 5.50B | 6.92B | +26.01% | -2.26% | +0.4% | |
| Q3 FY2015 | 0.92 | 0.98 | +6.52% | +16.67% | 4.62B | 5.58B | +20.88% | +3.95% | +0.9% | |
| Q2 FY2015 | 0.91 | 0.88 | -3.30% | +11.39% | 6.02B | 5.51B | -8.45% | -2.57% | -2.2% | |
| Q1 FY2015 | 0.73 | 0.63 | -13.70% | +12.50% | 5.34B | 4.88B | -8.65% | -3.93% | +2.5% | |
| Q4 FY2014 | 1.33 | 1.31 | -1.50% | +2.34% | 7.49B | 7.08B | -5.44% | +4.41% | -5.3% | |
| Q3 FY2014 | 0.84 | 0.84 | 0.00% | +7.69% | 5.54B | 5.37B | -2.96% | -2.25% | -4.8% | |
| Q2 FY2014 | 0.76 | 0.79 | +3.95% | +8.22% | 3.90B | 5.66B | +44.85% | +6.79% | +1.3% | |
| Q1 FY2014 | 0.60 | 0.56 | -6.67% | -3.45% | 4.35B | 5.08B | +16.84% | +10.05% | -2.3% | |
| Q4 FY2013 | 1.28 | 1.28 | 0.00% | +12.28% | 7.38B | 6.79B | -8.05% | +4.73% | -1.1% | |
| Q3 FY2013 | 0.82 | 0.78 | -4.88% | +11.43% | 5.17B | 5.49B | +6.23% | +7.86% | +3.6% | |
| Q2 FY2013 | 0.75 | 0.73 | -2.67% | +4.29% | 5.05B | 5.30B | +4.78% | +8.60% | -2.8% | |
| Q1 FY2013 | 0.58 | 0.58 | 0.00% | +18.37% | 4.06B | 4.62B | +13.76% | +3.50% | -4.0% | |
| Q4 FY2012 | 1.18 | 1.14 | -3.39% | +5.56% | 4.20B | 6.48B | +54.22% | +10.42% | +1.4% | |
| Q3 FY2012 | 0.75 | 0.70 | -6.67% | -2.78% | 4.35B | 5.09B | +17.14% | +10.86% | +2.2% | |
| Q2 FY2012 | 0.70 | 0.70 | 0.00% | +18.64% | 4.06B | 4.88B | +20.15% | +2.08% | +1.3% | |
| Q1 FY2012 | 0.51 | 0.49 | -3.92% | +11.36% | 4.22B | 4.46B | +5.60% | +4.13% | +1.2% | |
| Q4 FY2011 | 1.05 | 1.08 | +2.86% | +16.13% | 5.78B | 5.87B | +1.48% | +9.02% | +0.7% | |
| Q3 FY2011 | 0.64 | 0.72 | +12.50% | +9.09% | 4.37B | 4.59B | +5.07% | +12.05% | +2.2% | |
| Q2 FY2011 | 0.57 | 0.59 | +3.51% | -4.84% | 4.75B | 4.78B | +0.52% | +32.77% | -3.0% | |
| Q1 FY2011 | 0.47 | 0.44 | -6.38% | -13.73% | 4.60B | 4.28B | -6.84% | +26.50% | -6.9% | |
| Q4 FY2010 | 0.88 | 0.93 | +5.68% | -6.06% | 5.12B | 5.38B | +5.11% | +17.69% | +1.6% | |
| Q3 FY2010 | 0.67 | 0.66 | -1.49% | +11.86% | 4.74B | 4.10B | -13.58% | +12.01% | -5.2% | |
| Q2 FY2010 | 0.58 | 0.62 | +6.90% | +10.71% | 3.80B | 3.60B | -5.23% | -0.33% | -2.7% | |
| Q1 FY2010 | 0.50 | 0.51 | +2.00% | +75.86% | 3.98B | 3.39B | -14.90% | +5.51% | -3.2% | |
| Q4 FY2009 | 0.93 | 0.99 | +6.45% | -3.88% | 4.62B | 4.57B | -1.05% | -9.42% | +0.3% | |
| Q3 FY2009 | 0.58 | 0.59 | +1.72% | -4.84% | 3.63B | 3.66B | +0.92% | -4.05% | -9.9% | |
| Q2 FY2009 | 0.51 | 0.56 | +9.80% | -15.15% | 3.36B | 3.61B | +7.43% | -19.96% | +0.8% | |
| Q1 FY2009 | 0.38 | 0.29 | -23.68% | -32.56% | 3.22B | 3.21B | -0.42% | -16.81% | -4.7% | |
| Q4 FY2008 | 0.95 | 1.03 | +8.42% | +13.19% | 5.11B | 5.05B | -1.09% | +16.96% | +4.4% | |
| Q3 FY2008 | 0.56 | 0.62 | +10.71% | +31.91% | 3.89B | 3.82B | -1.88% | +10.94% | +6.0% | |
| Q2 FY2008 | 0.64 | 0.66 | +3.13% | +32.00% | 4.17B | 4.51B | +8.05% | +37.76% | +9.8% | |
| Q1 FY2008 | 0.43 | 0.43 | 0.00% | +26.47% | 4.31B | 3.86B | -10.37% | +33.51% | -4.2% | |
| Q4 FY2007 | 0.88 | 0.91 | +3.41% | +4.60% | 4.16B | 4.32B | +3.70% | +12.15% | -1.5% | |
| Q3 FY2007 | 0.46 | 0.47 | +2.17% | +14.63% | 3.01B | 3.44B | +14.27% | +20.80% | -2.9% | |
| Q2 FY2007 | 0.44 | 0.50 | +13.64% | +11.11% | 2.71B | 3.27B | +21.00% | +17.40% | +6.9% | |
| Q1 FY2007 | 0.37 | 0.34 | -8.11% | +9.68% | 3.35B | 2.89B | -13.63% | +17.14% | +2.5% | |
| Q4 FY2006 | 0.78 | 0.87 | +11.54% | +33.85% | 2.76B | 3.85B | +39.62% | +18.12% | -7.0% | |
| Q3 FY2006 | 0.39 | 0.41 | +5.13% | +24.24% | 2.93B | 2.85B | -2.67% | +17.87% | -3.3% | |
| Q2 FY2006 | 0.42 | 0.45 | +7.14% | +36.36% | 2.87B | 2.79B | -2.83% | +15.50% | -3.0% | |
| Q1 FY2006 | 0.30 | 0.31 | +3.33% | +14.81% | 2.98B | 2.47B | -17.09% | +10.60% | -1.9% | |
| Q4 FY2005 | 0.62 | 0.65 | +4.84% | +12.07% | 2.93B | 3.26B | +11.11% | +0.05% | +9.4% | |
| Q3 FY2005 | 0.34 | 0.33 | -2.94% | +10.00% | 2.28B | 2.42B | +5.88% | +9.98% | +0.1% | |
| Q2 FY2005 | 0.31 | 0.33 | +6.45% | +22.22% | 2.08B | 2.41B | +16.10% | +11.01% | -2.4% | |
| Q1 FY2005 | 0.26 | 0.27 | +3.85% | +17.39% | 2.37B | 2.23B | -5.82% | +17.76% | +5.4% | |
| Q4 FY2004 | 0.55 | 0.58 | +5.45% | +26.09% | 2.33B | 3.26B | +39.63% | +28.46% | -2.3% | |
| Q3 FY2004 | 0.29 | 0.30 | +3.45% | +25.00% | 2.38B | 2.20B | -7.65% | +14.03% | +3.1% | |
| Q2 FY2004 | 0.28 | 0.27 | -3.57% | +17.39% | 2.30B | 2.18B | -5.26% | +15.91% | +1.1% | |
| Q1 FY2004 | 0.23 | 0.23 | 0.00% | +35.29% | 2.21B | 1.89B | -14.43% | +16.02% | +0.5% | |
| Q4 FY2003 | 0.44 | 0.46 | +4.55% | +12.20% | 2.35B | 2.54B | +7.75% | +19.43% | +2.0% | |
| Q3 FY2003 | 0.20 | 0.24 | +20.00% | +33.33% | 2.05B | 1.93B | -6.06% | +15.12% | -1.5% | |
| Q2 FY2003 | 0.20 | 0.23 | +15.00% | +64.29% | 2.14B | 1.88B | -12.27% | +7.24% | -8.5% | |
| Q1 FY2003 | 0.13 | 0.17 | +30.77% | +88.89% | 1.88B | 1.63B | -13.20% | +12.74% | +7.6% | |
| Q4 FY2002 | 0.31 | 0.41 | +32.26% | +51.85% | 1.86B | 2.12B | +14.14% | +19.47% | -0.2% | |
| Q3 FY2002 | 0.11 | 0.18 | +63.64% | +200.00% | 1.50B | 1.67B | +11.28% | +1.55% | +25.7% | |
| Q2 FY2002 | 0.13 | 0.14 | +7.69% | -12.50% | 1.14B | 1.75B | +53.21% | +10.74% | -2.3% | |
| Q1 FY2002 | 0.10 | 0.09 | -10.00% | 0.00% | 1.37B | 1.45B | +5.98% | +7.52% | +1.7% | |
| Q4 FY2001 | 0.24 | 0.27 | +12.50% | -20.59% | 1.09B | 1.78B | +62.54% | -13.33% | +7.3% | |
| Q3 FY2001 | 0.13 | 0.06 | -53.85% | 0.00% | 1.60B | 1.65B | +3.03% | +31.36% | -2.7% | |
| Q2 FY2001 | 0.13 | 0.16 | +23.08% | +45.45% | 1.50B | 1.58B | +5.41% | +11.06% | -2.4% | |
| Q1 FY2001 | 0.08 | 0.09 | +12.50% | +200.00% | 1.09B | 1.35B | +23.21% | +18.95% | +10.9% | |
| Q4 FY2000 | 0.22 | 0.34 | +54.55% | +126.67% | 1.99B | 2.05B | +3.05% | +22.82% | -3.7% | |
| Q3 FY2000 | 0.11 | 0.06 | -45.45% | +100.00% | 1.13B | 1.25B | +11.23% | +4.83% | -8.0% | |
| Q2 FY2000 | 0.12 | 0.11 | -8.33% | -8.33% | 1.34B | 1.42B | +6.03% | +9.98% | -0.3% | |
| Q1 FY2000 | 0.09 | 0.03 | -66.67% | -66.67% | 1.11B | 1.13B | +2.30% | -2.18% | -2.9% | |
| Q4 FY1999 | 0.15 | 0.15 | 0.00% | -21.05% | 1.23B | 1.67B | +35.72% | +28.94% | +3.5% | |
| Q3 FY1999 | 0.09 | 0.03 | -66.67% | -76.92% | 1.11B | 1.20B | +8.08% | +5.37% | -2.3% | |
| Q2 FY1999 | 0.13 | 0.12 | -7.69% | — | 1.33B | 1.29B | -2.92% | — | +1.5% | |
| Q1 FY1999 | 0.06 | 0.09 | +50.00% | +12.50% | 820.00M | 1.16B | +41.18% | +7.57% | -4.3% | |
| Q4 FY1998 | 0.20 | 0.19 | -5.00% | -9.52% | 1.29B | — | — | -26.32% | +13.0% | |
| Q3 FY1998 | 0.09 | 0.10 | +11.11% | +42.86% | 1.11B | — | — | -21.25% | +1.6% | |
| Q3 FY1998 | 0.12 | 0.13 | +8.33% | +85.71% | 1.14B | — | — | -19.23% | 0.0% | |
| Q1 FY1998 | 0.07 | 0.08 | +14.29% | — | 1.08B | — | — | — | +3.3% | |
| Q4 FY1997 | 0.30 | 0.21 | -30.00% | — | 1.76B | — | — | — | +1.1% | |
| Q3 FY1997 | 0.08 | 0.07 | -12.50% | — | 1.41B | — | — | — | +1.8% | |
| Q2 FY1997 | 0.10 | 0.12 | +20.00% | — | 1.03M | — | — | — | -1.2% | |
| Q2 FY1997 | 0.10 | 0.12 | +20.00% | — | 1.03B | — | — | — | -1.2% |
| Period | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|
| FY2028 | 10.83 | — | — | +17.63% | 56.11B | — | — | +12.09% |
| FY2027 | 9.21 | — | — | +17.68% | 50.06B | — | — | +12.02% |
| FY2026 | 7.82 | — | — | +12.42% | 44.69B | — | — | +4.13% |
| FY2025 | 7.07 | 6.96 | -1.53% | +48.09% | 43.16B | 42.92B | -0.57% | +17.51% |
| FY2024 | 4.66 | 4.70 | +0.88% | -10.82% | 35.57B | 36.52B | +2.68% | +7.41% |
| FY2023 | 5.68 | 5.27 | -7.29% | +29.80% | 33.80B | 34.00B | +0.59% | +5.43% |
| FY2022 | 4.70 | 4.06 | -13.60% | -39.85% | 32.75B | 32.25B | -1.53% | -0.37% |
The move is the shares' change on the trading day after the report: after a report after the close, the next day's close on the report day's; before the open, the report day's close on the day before's. Surprise is the reported figure against the analysts' average estimate.
From the last earnings call, the company's guidance and analysts' previews, and checked against the report when it comes.
Cloud subscriptions are SAP’s main growth engine, so a slowdown could weigh on the shares.
On average, analysts' EPS estimate was 7.2% off the result, either way, and their revenue estimate 1.2%, over the last 12 quarters.
See also:Forecast,EPS,Income statement
Source: Financial Modeling Prep
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