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SAP SE (SAP) Q1 2026 earnings results (first quarter 2026)
6-K filed Apr 28, 2026
SAP SE (SAP) reported revenue of $9.6B for the first quarter 2026 (Q1 2026), +6% from a year earlier. Operating margin was 28.7%, net earnings $1.9B (20.2% of revenue).
SAP SE, Q1 2026: revenue $9.6B (+6% year over year), operating margin 28.7%, net earnings $1.9B, operating cash flow $3.5B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.6B | — | +6% |
| Gross profit | $7.0B | — | +6% |
| Operating profit | $2.7B | — | +17% |
| Net earnings | $1.9B | — | +9% |
| Operating cash flow | $3.5B | — | -7% |
What changed
Revenue was €9.6B in Q1 2026, up 6% year over year. Thereof Cloud ERP Suite 2 was the largest line at 55% of revenue. Thereof Cloud ERP Suite 2 added €1.0B year over year (up 23%), 178% of the total change. Software licenses revenue declined 37%.
Gross margin was 73.0%, down 0.3 points from a year earlier. Operating profit was €2.7B, a 28.7% margin (up 2.8 points year over year). Of the extra revenue versus a year earlier, 75% reached operating profit, above the 26% margin then. Operating expenses fell 1% while revenue rose 6%. Net earnings were €1.9B, up 9% year over year. The effective tax rate was 29.1%.
Operating cash flow was €3.5B (down 7% year over year), 181% of net earnings. Non-cash charges added back €0.30B of depreciation and amortization. Working capital and other items added €1.3B.
Questions
What was SAP SE's revenue in the first quarter 2026?
SAP SE (SAP) reported revenue of $9.6B for the first quarter 2026 (Q1 2026), +6% from a year earlier.
Was SAP SE profitable in the first quarter 2026?
Operating profit was $2.7B (28.7% of revenue) and net earnings $1.9B.
Source: SAP SE 6-K on SEC EDGAR.