SAP Clears First €10B+ Quarter as Cloud Revenue Grows 25% to €6.7B and Backlog Hits €24.1B

SAP posted Q3 2026 cloud revenue up 25% constant-currency to €6.7B as total quarterly revenue topped €10B for the first time. Cloud ERP Suite grew 28% and current cloud backlog hit €24.1B, up 26%, with AI products including the Joule assistant and Business Data Cloud cited as growth drivers. Management guided Q4 cloud growth to moderate to roughly 23%.