ReutersBerlin: German business software group SAP AG 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 15%-18% in the year as a whole, helping its overall cloud and software revenue to gain 2%-3%. Operating profit is now expected to be unchanged to down 4% for the year.
"We're seeing strong adoption of our cloud portfolio as customers select SAP for their digital business transformation. Our strategy is working," CEO Christian Klein said on Wednesday.
SAP now expects cloud revenue to grow by 15%-18% in the year as a whole, helping its overall cloud and software revenue to gain 2%-3%. Operating profit is now expected to be unchanged to down 4% for the year.
"We're seeing strong adoption of our cloud portfolio as customers select SAP for their digital business transformation. Our strategy is working," CEO Christian Klein said on Wednesday.