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

imageStock Markets3 minutes ago (Oct 12, 2021 07:21PM ET)

(C) Reuters. FILE PHOTO: The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski/File Photo

STOCKHOLM (Reuters) – German business software group SAP raised its full-year outlook for a third time on the back of a strong showing in the third quarter as more customers shift their IT operations to the cloud.

SAP now expects cloud revenue to grow by 16%-19% in the year as a whole, helping its overall cloud and software revenue to gain by 2%-4%, it said in a statement late on Tuesday.

Operating profit is expected to be flat to down 2% for the year, an improvement from its earlier forecast of unchanged to down 4%.

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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Tug fights container fire on cargo ship off British Columbia

World18 minutes ago (Oct 24, 2021 01:05PM ET) 2/2 (C) Reuters. Fire cascades down from the deck of the container ship ZIM Kingston into the waters...

Israel stocks lower at close of trade; TA 35 down 0.04%

Stock Markets53 minutes ago (Oct 24, 2021 12:30PM ET) (C) Reuters. Israel stocks lower at close of trade; TA 35 down 0.04% Investing.com - Israel stocks...

UniCredit, Italy govt end talks over potential sale of Monte dei Paschi

Stock Markets4 minutes ago (Oct 24, 2021 12:20PM ET) (C) Reuters. FILE PHOTO: Banca Monte dei Paschi's headquarters in Siena, Italy, October 27, 2017. REUTERS/Stefano...

Latest Posts

Stay in touch

Join the exclusive subscription today and get premium articles for free

Categories