SAP $SAP JUST REPORTED Q3 EARNINGS - Revenue: €10,270M, beating est. of €10.13B 🟢 - Adj EPS: €1.89, beating est. of €1.87 🟢 - Current Cloud Backlog: €24.1B (+28%, +26% cc) - Cloud ERP Suite: €5,924M (+29% YoY) - Cloud & Software: €9,249M (+15% YoY) - Software Support: €2,434M (-5% YoY) - Services: €1,021M (-4% YoY) - Non-IFRS Oper Margin: 29.5% (+1.2pp YoY) FY26 Guidance: - Cloud Revenue (cc): €25.8B-€26.2B (upper end) - Cloud & Software Rev (cc): €36.3B-€36.8B (upper end) - Non-IFRS Oper Profit (cc): €11.8B-€12.2B - Free Cash Flow: ~€10B - Non-IFRS Tax Rate: ~29% Key Updates: - Share Repurchases: ~€4.2B under the program - Outlook: Cloud revenue and cloud & software revenue are expected toward the upper end of their ranges - Acquisition: SAP entered into an agreement to acquire TechWolf