SAP shares slide as cloud-backlog miss spooks investors
SAP’s shares fell as much as 14% after Q4 cloud backlog rose 16% to €21.1 billion, missing forecasts of roughly 26% growth and signaling a deceleration in 2026; overall revenue reached €9.7 billion and operating profit €2.6 billion, while management said the quarter laid a foundation to accelerate growth through 2027 despite investor concerns about AI and legacy software dynamics.
