SAP raises full-year revenue forecasts

Berlin: German software firm SAP raised its revenue forecasts for the full year on Thursday, after sales of its cloud computing products and its bottom line swelled in the second quarter.
The Walldorf-based firm reported net profits of 720 million euros ($838 million) between April and June, up 8.0 per cent year-on-year.
Operating, or underlying profits grew 13 per cent, to 1.04 billion euros, on the back of revenues up 4.0 per cent at 6.0 billion.
Of those revenues, sales of SAP’s cloud computing services remained the star of the group’s show, adding 30 per cent to reach 1.2 billion euros. — AFP