SAP reported first-quarter non-IFRS revenue of 9.56 billion euros, beating analysts’ expectations of 9.53 billion euros.

First quarter non-IFRS cloud/software revenue was 8.55 billion euros, while analysts expected 8.47 billion euros. First quarter non-IFRS cloud revenue was 5.96 billion euros, with analysts expecting 5.9 billion euros. Cloud revenue (excluding exchange rate factors) is expected to reach 25.8–26.2 billion euros in 2026. Cloud/software revenue (excluding exchange rate factors) is expected to reach 36.3–36.8 billion euros in 2026. A certain exchange’s US shares rose 11% after hours.