SAP SE reported Q1 adjusted EPS €1.72, revenue €9.56bn up 6% YoY, cloud revenue €5.96bn up 27% constant‑currency.
Adjusted operating profit €2.87bn beat consensus €2.73bn, margin rose to 30.0% from 27.2% a year earlier.
Cloud backlog grew 20% (25% cc) to €21.9bn; Cloud ERP Suite revenue rose 23% (30% cc) to €5.21bn.
SAP completed first share‑repurchase tranche buying 16.3 million shares for €2.6bn under its €10bn program through Dec 2027.