SAP earnings: shares sink on cloud backlog doubts despite €10 billion buyback
MILAN, January 29, 2026, 10:09 (CET) SAP shares were poised for their biggest one-day drop since October 2020 on Thursday, plunging 11% by 0852 GMT. Investors zeroed in on a cloud backlog update that missed expectations. Citi analyst Balajee Tirupati said SAP “needed an all-round acceleration” and flagged the update’s “puts and takes,” warning the stock might trail. (Reuters) Walldorf-based…