SAP Lifts Full-Year Outlook as More Customers Shift to Cloud

SAP Lifts Full-Year Outlook as More Customers Shift to Cloud
The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, on May 12, 2016. Ralph Orlowski/Reuters
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STOCKHOLM—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 percent-19 percent in the year as a whole, helping its overall cloud and software revenue to gain by 2 percent-4 percent, it said in a statement late on Tuesday.