SAP Q1 2026 cloud revenue jumps 27% at constant currency, boosts full-year outlook.

SAP reported strong Q1 2026 results with cloud revenue up 27% at constant currencies and a 25% increase in current cloud backlog, driven by growth in its Cloud ERP Suite and AI solutions. Total revenue rose 12% at constant currencies, and operating profit increased by 24%. The company completed the first tranche of a €10 billion share repurchase program and announced plans to acquire Reltio to enhance its AI data capabilities. SAP expects full-year 2026 cloud revenue to grow 23-25% and non-IFRS operating profit to increase 14-18%, assuming a near-term easing of geopolitical tensions.