SAP: raises full-year outlook on strong cloud growth.

(CercleFinance.com) - German business software maker SAP has raised its 2017 outlook, with the group seeing fast growth in the cloud segment continue.


The company now expects non-IFRS total revenue to come in at between 23.3 billion euros and 23.7 billion euros at constant currencies this year, up from 22.1 billion euros last year.

SAP said it expects full-year operating profit of between 6.8 billion euros and 7 billion euros, up from 6.6 billion euros last year.

The group reported a 4% rise in second-quarter operating profit, to 1.57 billion euros. Total cloud and software revenue was 4.76 billion, up 9%.

"Our cloud and software revenue growth rate in the first half of the year is at the upper end of our full-year guidance range," commented CFO Luka Mucic.

SAP said it plans to begin a share buyback of up to 500 million euros in the second half.

The Frankfurt-listed shares were down 0.1% at 93.7 euros after these announcements were made.

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