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SAP lifts full-year outlook as more customers shift to cloud By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for the German software company SAP can be seen at its Walldorf headquarters, Germany on May 12, 2016. REUTERS/Ralph Orlowski/File photo

STOCKHOLM, (Reuters) – German software company SAP has raised its full year outlook due to a strong third quarter showing as customers move their IT operations into the cloud.

SAP anticipates that its cloud revenue will increase by 16%-19% over the whole year. This should help boost its cloud and software revenue by 2% to 4%, said SAP in a Tuesday statement.

The operating profit will be down to 2% or flat for the year. This is an improvement on its previous forecast that was unchanged to 4%.

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