SAP lifts outlook as cloud push gains traction in Q2

SAP lifts outlook as cloud push gains traction in Q2

German business software group SAP raised its outlook for the second time this year as a strategic push to help customers shift their IT operations to the cloud gained traction in the second quarter.

SAP logo at SAP headquarters in Walldorf
FILE PHOTO: SAP logo at SAP headquarters in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski

BERLIN: German business software group SAP raised its outlook for the second time this year as a strategic push to help customers shift their IT operations to the cloud gained traction in the second quarter.

SAP now expects cloud revenue to grow by 15per cent-18per cent in the year as a whole, helping its overall cloud and software revenue to gain by 2per cent-3per cent. Operating profit is now expected to be unchanged to down 4per cent for the year.

"We're seeing strong adoption of our cloud portfolio as customers select SAP for their business transformation. Our strategy is working," CEO Christian Klein said on Wednesday.

(US$1 = 0.8495 euros)

(Reporting by Douglas Busvine; Editing by Riham Alkousaa)

Source: Reuters

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