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SAP SE (SAP) Q2 2025 earnings results (second quarter 2025)
6-K filed Jul 25, 2025
SAP SE (SAP) reported revenue of $9.0B for the second quarter 2025 (Q2 2025), +9% from a year earlier. Operating margin was 27.2%, net earnings $1.7B (18.8% of revenue).
SAP SE, Q2 2025: revenue $9.0B (+9% year over year), operating margin 27.2%, net earnings $1.7B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.0B | — | +9% |
| Gross profit | $6.6B | — | +10% |
| Operating profit | $2.5B | — | +101% |
| Net earnings | $1.7B | — | +91% |
What changed
Revenue was €9.0B in Q2 2025, up 9% year over year. Cloud was the largest line at 57% of revenue. Cloud added €1.0B year over year (up 24%), 132% of the total change. Software licenses declined 15%.
Gross margin was 73.3%, up 0.7 points from a year earlier. Operating profit was €2.5B, a 27.2% margin (up 12.5 points year over year). Of the extra revenue versus a year earlier, 167% reached operating profit, above the 15% margin then. Operating expenses fell 13% while revenue rose 9%. Net earnings were €1.7B, up 91% year over year. The effective tax rate was 30.1%.
Questions
What was SAP SE's revenue in the second quarter 2025?
SAP SE (SAP) reported revenue of $9.0B for the second quarter 2025 (Q2 2025), +9% from a year earlier.
Was SAP SE profitable in the second quarter 2025?
Operating profit was $2.5B (27.2% of revenue) and net earnings $1.7B.
Source: SAP SE 6-K on SEC EDGAR.