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SAP SE (SAP) Q2 2026 earnings results (second quarter 2026)
6-K filed Jul 28, 2026
SAP SE (SAP) reported revenue of $9.9B for the second quarter 2026 (Q2 2026), +9% from a year earlier and +3% from the quarter before. Operating margin was 26.8%, net earnings $2.2B (22.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.9B | +3% | +9% |
| Gross profit | $7.2B | +4% | +9% |
| Operating profit | $2.6B | -4% | +8% |
| Net earnings | $2.2B | +13% | +28% |
| Operating cash flow | $6.7B | +90% | +5% |
What changed
Revenue was €9.9B in Q2 2026, up 9% year over year and up 3% from the previous quarter. Thereof Cloud ERP Suite 2 was the largest line at 56% of revenue. Thereof Cloud ERP Suite 2 added €1.1B year over year (up 25%), 130% of the total change. Software licenses revenue declined 32%.
Gross margin was 73.2%, down 0.2 points from a year earlier. Operating profit was €2.6B, a 26.8% margin (down 0.5 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, below the 27% margin then. Operating expenses grew 10% against revenue growth of 9%. The fastest-growing cost line was Research & development (+14%). Net earnings were €2.2B, up 28% year over year. The effective tax rate was 26.5%.
Operating cash flow was €6.7B (up 5% year over year), 302% of net earnings. Non-cash charges added back €0.62B of depreciation and amortization. Working capital and other items added €3.8B.
Questions
What was SAP SE's revenue in the second quarter 2026?
SAP SE (SAP) reported revenue of $9.9B for the second quarter 2026 (Q2 2026), +9% from a year earlier and +3% from the quarter before.
Was SAP SE profitable in the second quarter 2026?
Operating profit was $2.6B (26.8% of revenue) and net earnings $2.2B.
Source: SAP SE 6-K on SEC EDGAR.