Filing Flows › SAP SE (SAP) › Q2 2026 › vs Q1 2026
SAP SE (SAP) Q2 2026 vs Q1 2026 (quarter over quarter)
SAP SE's revenue rose $323M (+3%) from $9.6B in Q1 2026 to $9.9B in Q2 2026. The biggest changes: Cloud and software revenue +$306M (+4%); Services Revenue +$20.0M (+2%). Gross margin 73.2% against 73.0% (+0.2 pts).
SAP SE, Q2 2026: revenue $9.9B (+9% year over year), operating margin 26.8%, net earnings $2.2B, operating cash flow $6.7B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 73.2% | 73.0% | +0.2 pts |
| Operating margin | 26.8% | 28.7% | -1.9 pts |
| Net margin | 22.1% | 20.2% | +1.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Thereof Cloud ERP Suite 2 | $5.5B | $5.2B | $311M | +6% |
| Software support revenue | $2.4B | $2.5B | −$30.0M | -1% |
| Thereof Extension Suite 2 | $692M | $681M | $11.0M | +2% |
| Software licenses revenue | $131M | $116M | $15.0M | +13% |
| IaaS 2 | $65.0M | $66.0M | −$1.0M | -2% |
| Cloud and software revenue | $8.9B | $8.5B | $306M | +4% |
| Services Revenue | $1.0B | $1.0B | $20.0M | +2% |
| Revenue | $9.9B | $9.6B | $323M | +3% |
| Gross profit | $7.2B | $7.0B | $255M | +4% |
| Cost of revenue | $2.6B | $2.6B | $68.0M | +3% |
| Other income, net | $363M | $5.0M | $358M | 73× |
| Operating profit | $2.6B | $2.7B | −$98.0M | -4% |
| Operating expenses | $4.6B | $4.2B | $353M | +8% |
| Pre-tax earnings | $3.0B | $2.7B | $260M | +9% |
| Research & development | $1.8B | $1.7B | $143M | +8% |
| Sales & marketing | $2.3B | $2.1B | $175M | +8% |
| General & admin | $404M | $358M | $46.0M | +13% |
| Other operating costs | $22.0M | $33.0M | −$11.0M | -33% |
| Net earnings | $2.2B | $1.9B | $248M | +13% |
| Minority interests | $29.0M | $14.0M | $15.0M | +107% |
| Income tax | $797M | $800M | −$3.0M | -0.4% |
| Depreciation & amortization | $621M | $305M | $316M | +104% |
| Working capital & other | $3.9B | $1.3B | $2.6B | +203% |
| Operating cash flow | $6.7B | $3.5B | $3.2B | +90% |
Questions
How much did SAP SE's revenue grow quarter over quarter in Q2 2026?
SAP SE's revenue rose $323M (+3%) from $9.6B in Q1 2026 to $9.9B in Q2 2026.
What drove SAP SE's revenue change in Q2 2026?
Cloud and software revenue +$306M (+4%); Services Revenue +$20.0M (+2%).