SAP is trading 4.6% up at €134.18 following its Q2 and half-year 2026 financial results released on July 23, 2026. - The company reported strong current cloud backlog growth of 26% and cloud revenue up 24% at constant currencies. - Despite strong cloud momentum, SAP missed some analyst estimates for overall revenue and EPS and lowered its non-IFRS operating profit outlook for 2026 to reflect the dilutive impact of recent acquisitions.